Subject: File Number S7-08-09

June 9, 2009

Mrs. Elizabeth Murphy
Secretary, Securities and Exchange Commission
100 F Street, NE
Washington DC, 20549-1090

RE: File Number S7-08-09

Dear Madam:

I am writing in reference to rule change S7-08-09 to Regulation SHO under the Securities Exchange act of 1934. The proposed rule changes to implement more restrictions on short sellers will further reduce investor confidence with a reduction in liquidity and an increase in pricing inefficiencies within the equities market. In order for the equities market to be efficient, legitimate short selling is necessary. Restricting short selling will not only decrease trading volume in the equities market but it will also promote artificial inflation. In addition to this, investors may not comfortably accumulate large equity positions because it will be harder to successfully hedge their risk.
The uptick rule was unable to prevent the stock market crash of 1987, and its reinstatement will cause more harm than good. To keep the markets efficient and liquid, it will be best not to institute any further short selling restrictions.


Ricky Baylin
Registered Equity Trader