Subject: File No. S7-08-09
From: Gary E Miller
Affiliation: Certified Financial Planner

February 21, 2010

Markets need, in principal, to be unfettered to permit the most accurate form of price discovery, and to promote the utmost liquidity. Still, I believe The "uptick rule" should be reinstated, on a three year test basis. It appears to have served the equities markets well for decades after implementation. In today's institutionally dominated, technologically driven market place, it would be useful to suppress short term "raids" on equities.
If, after a three year test, studies do not demonstrate that a reinstated uptick rule can be linked to lower intra day volatility, the uptick rule should likely be again removed.