Subject: Uptick Rule

February 10, 2009

Has the new Chairperson given any thought to undoing the rather bad mistake of her predecessor and reinstating the Short Selling Uptick Rule.

A rule that was put in place from the lessons of The Great Depression and one (a lesson), unfortunately, that we have had to learn all over again.

In addition to puttng back in place the Uptick Rule, I find it hard to believe that the Short Interest can not, in this day and age of powerful computer systems, be reported in real time.

Only recently, has the Short sales gone from a once a month report to bi-monthly.

Why could not every sale be determined and coded to be either a long purchase, a sale of the equity in the account a short sale or a purchase to cover a previous short sale (short covering).

In this way, the short interest for any equity could be kept up to the second and all Investors would be kept apprised of what the Short Sellers are doing.

Short Selling is not a bad thing as it provides liquidity in a frothy bull market but it can quickly add to the carnage, without the Uptick rule, in weak markets as we have had since the Uptick rule was removed.

I would appreciate knowing the new Chariperson Shapiro's views on greater control and monitoring of Short Sellers.

Thanks & Jesse Livermore is laughing at us from his grave;

jeff zink