Subject: File No. S7-08-09
From: Cem Kaner, J.D., Ph.D.
Affiliation: Professor of Software Engineering, Florida Institute of Technology

May 29, 2009

Thank you for opening this discussion and for sorting through these thousands of comments.

I urge you to adopt a permanent uptick rule, rather than a short-circuit system.

While I do actively manage my family's investments, including actively trading stocks in three accounts, I am not sufficiently knowledgeable to guide you between the two proposed permanent rules that you described, or to suggest a third alternative. You are aware of Jim Cramer's advocacy on this rule. I am confident of his good faith, and trust that you will take his specific recommendations seriously.

I also urge you to bar (and strictly enforce the bar against) naked short selling.


Cem Kaner, J.D., Ph.D.