Subject: File No. S7-08-09
From: Shelby Frisch, Ph.D.
Affiliation: Research Scientist Colorado State University (retired)

May 15, 2009

As a small investor with part of my retirement in the market, I would like to see

1. The uptick rule reinstated
2. The end of naked short selling
3. The uptick rule applied to the ETFs or better yet, get rid of them.

I feel that without these safeguards, the market will continue to be the "Wild West" instead of being an orderly one. As a small investor, if these rules or similar ones aren't put into place, then I cannot see investing in the market and I'm sure many small investors will feel the same.

The excuse that putting back the uptick rule will mess up the trading programs is really BS. A good programmer should be able to do it with a few lines of code. It shouldn't cost more than .00001% of some hedge funds outrageous profits.