Subject: File No. S7-08-09
From: Yury Kolomisky

May 8, 2009

Everybody should be able to sell short shares of any company under any circumstances. Although it minimizes the trading proceeds for market makers (MM) who routinely do so (selling short) when the market is pulled down. I hope you in SEC are not under impression that the stock price in any moment is determined by supply and demand and MM work for this one cent difference between bid and ask I saw a lot of cases when MM were pulling the stock price down selling the shares yo the public like hell (which means that the public is buying and the price should go up), selling out millions of shares they know that they will collect later at a much lower price. It so nice to trade when you know the future, and the suckers on the other side well, suck. This was the case with ACA which started this financial crisis, MM selling short. It is easy to prove just count the balance of shares during the trading day although it is also manipulated to some extent.
One of the things I would ask if I were SEC would be: Who is monitoring the pool of shares sold in the street name just as electronic receipts? It is so convenient to have it under MM management without control or am I missing something here? I guess this pool should be independently monitored by computer programs under SEC supervision. If anybody cares

-- Yury