June 1, 2009
dear sec, in re to your request for public comments on the up-tick rule and naked short selling, i have the following comments. reinstste the up-tick rule without a circuit breaker, and enforce the naked short selling rule. without these rules in place the retail investor is at a disadvantage. the downturn in the market coincides with the elimination of the up-tick rule in 2007. when there is more shares short than there is in the float, a stock is going nowhere but lower. the professional traders can gang-up on a company and force the share price down. it was especially effective with the financials. their actions caused a run on the banks whose stock was falling the most. thank you for looking into this matter.