Subject: File No. S7-08-09
From: Bruce D MacGibbon, Esquire

May 15, 2009

I am IN FAVOR of REINSTATING the UPTICK RULE in it prior form:

The SEC's former uptick test (former Rule 10a-1), based on the last sale price, covered approximately 4,000 exchange-listed securities (or 68 million short sales).

It was a time tested, well proven formula that effects a bigger proportion of the proposed market. The SEC can always do Specific-Circuit Breaker tests for specific market groups or stocks, like the ban on short selling the banks last year, if it so desires.