Subject: File No. S7-08-09
From: John E Hall
Affiliation: Individual Investor

June 16, 2009

Looking at stocks with a small amount of float, trading a million shares or less each day, I have concluded that Hedge Funds and Short Sellers can and do control the actions of the stock prices. They sell to the Bid price and make it the Offer price. They repeat this process over and over, driving the stock price down. Unless there is some great news to propel the stock price upward, it will continue to go down. This benefits the Hedge Funds and Short Sellers only. The general investing public takes all the losses generated by such trading actions.

Thus, if the general public is to remain as investors and traders, the up-tick rule must be reinststed in it's original form. Then the stock markets can recover as well as the overall economy.