Subject: File No. S7-08-09
From: Karen E Oneal
Affiliation: Accountant

May 8, 2009

With 9 Trillion on the sidelines waiting for the economy to calm down and the markets to stabilize, it seems to me that now is the time to reinstate the up-tick rule (as it was for 70 years)-and eliminate the naked-short selling. I am 65, have invested for 40 years and have moved 90% into cash equivalents. When the hedge funds and shorts took over the market - no sane investor could stay in. It became a crap shoot. I have reinvested 15% since March, but FEARFULLY. I now find I check the market 3 times a day and have to place trailing stops on every order. If you return the up-tick I do believe more of us will be willing to reinvest in Corporate America. Sooner, the better.