Subject: File No. S7-19-07
From: Glenn B Moyer
Affiliation: Registered Principal

July 19, 2008

I have been following markets for more than 26 years. I believe that the ending of the uptick rule last year opened the door to predatory selling of all stocks. I believe this is done in "take no prisoners" style by hedge funds. And we know they have been allowed to operate by their own rules. It's time for the clearing firms to make everyone accountable to rules. Not just the retail client. Predatory destruction of stocks DOES NOT help liquidity. It creates panic thinking... just what the hedge funds thrive on.