Subject: File No. S7-08-09
From: Alan Laroche

May 17, 2009

The practice of "naked" short selling should be illegal. Owning the stock before being able to short it will reduce a lot of the "gambling" that currently takes place in the market.
Reinstating the uptick rule as it was before 2004 would certainly help. The study period during 2004 -2006 was an unprecedented time of market euphoria and was not representative of a ten year period.