Subject: File No. S7-08-09
From: mark mcferran
Affiliation: Sales Director, Major Telecommunications Company

May 10, 2009

It is time to reinstate the uptick rule as it was prior to 2007 for 70 years. During that time it served its purpose well. While I am sure it was changed with good intention it has had unintended consequences. The net effect is that the small investor has lost confidence in the markets and its ability to serve those who need a investment vehicle for retirement. Too many have had significant damage done to 401Ks and other retirement accounts. The abolishion of the uptick rule gives an unfair advantage in the market to the professional investor or speculator and not the buy and hold set. Unless the goal is a return to the 70's where a generation turned their back on stocks make the decision to reinstate the uptick rule.