Subject: File No. S7-08-09
From: Enrique Vargas

May 8, 2009

If the up-tick rule was in effect since the 30's and wasn't taken out until a few years ago and then we have the stock meltdown that we had in the past year. Why do we have to prove the merits of a rule that was introduced to avoid a meltdown and we never had a meltdown until they took it out

My point is that someone show prove that we don't need it and not the other way around. The rule should come back and if a group of people think is no good then they should scientifically prove it but not with a study that dosen't represent the market conditions the rule was made for. Dont go and back test the rule in the biggest bubble of the XX century.

Last dont use the electronic trading as an excuse, five years ago the rule was there, we should have the technology to enforce the rule today.

Again it was there for decades, bring it back and let them prove to the world that the rule doesn't work not the other way around. IF YOU DON'T THE LITTLE INVESTOR WILL NEVER HAVE CONFIDENCE IN THE MARKET AGAIN