Subject: Uptick rule

February 1, 2009

Dear Chairman Mary Schapiro,

The use of short selling improves the pricing signals in most markets if done properly and transparently. Unfortunately there are ways to 'game' the system. Evidently these illegal methods are very difficult to detect and control.

The reinstatement of the 'uptick' rule would help control the improper use of short selling in the stock markets and I recommend you give careful consideration to doing this.


Steven C. Lesak