From: Terry Stephan
Sent: January 16, 2007
Subject: File No. S7-12-06

Dear SEC,

My comment is; Will this amendment will fix the PROBLEM OF CERTAIN STOCKS CONTINUALLY BEING ON THE SHO LIST. This should NOT be happening unless there is a SERIOUS BREECH AND POSSIBLY ILLEGAL ACTIONS that allow FTD’s to exist beyond the current “allowances”. If there is more than OCCASIONAL FTD’s, there is a SERIOUS problem that the SEC should IDENTIFY AND ELIMINATE.

Otherwise, the public will have NO CONFIDENCE in the Market, due to obvious manipulation thru SEC “allowed” ILLEGAL activity.

Mr. Terry Stephan
Laguna Niguel, CA