Subject: File No. S7-08-09
From: Craig

May 5, 2009

Please re-instate the uptick rule, enforce the rules against naked short selling, and ban the double and triple short ETFs. My research suggests that the conclusion that the uptick rule has no impact on the market was flawed because it was conducted in 07 during a bull market. The damage that Naked Short selling does is well documented. The SKF is a great example on the damage that these types of ETFs played on the financials by pounding the stocks down. Seems like this is just a way to get around margin rules.
The small investor can not compete against these forces. Please level the market so we have a chance to compete.