Subject: File No. S7-19-07
From: Joel Koerner

July 24, 2008

I am against your proposed rules. Market-makers have no reason to want to manipulate share prices they merely wish to hedge themselves. Their actions are a reflection of overall investor will. While some people may be unhappy that investors believe a stock will lose rather than gain value, that is the market.

This amendment will impose unnecessary costs on the market and make it less efficient. The SEC should not act to advance political policy as it appears to be doing in this instance.