Subject: File No. S7-08-09
From: ROXANA Noriega

October 27, 2009

Mary L Schapiro
SEC Chair
100 F Street, NE
Washington, DC 20549

Dear Mary Schapiro:

Lets not be naive. For naked short sellers, it is faster to obtain colossal gains with SHO than by simply buying shares when supposedly the prices are low and wait patiently for the ever slow increase. When the Hedge funds and big investors argue about the liquidity that SHO inject to the market they speak with evident interest in conflict. How is it possible that one naked short sell can inject liquidity to the markets if the assets do not exist? That is equivalent to injecting false money in the economy.


Roxana Noriega