Subject: File No. S7-20-08
From: Matthew Kitson
Affiliation: Transportation Industry

July 31, 2008

I do not feel it is fair, equitable, or responsible to prevent naked short selling on oil stocks. If it is ok to speculate them upward (hurting the U.S. and World economy), then a fair market environment would suggest that balance is necessary, thus allowing or disallowing both.

I feel the sudden memos regarding banning short sells as oil falls below the average puts the SEC Commissioners in suspect light. The decision clearly deters oil prices from quickly correcting downward to the median level for the economy and consumer. Allowing or preventing these actions which impact current momentum should not be unbalanced. The limiting of only the naked short sells at pivotal correction points, smells like a mandate and not the collaborative decision of all commissioners.

Perception lends itself towards a belief that protection of certain industries through limiting potential loss at pivotal points is intentional. Perhaps the actions are not intended to buffer the natural correction in industries such as oil, but the action clearly enabled speculators maximize their profits with the risk of the losses short selling can induce.

Perhaps it's time to revisit the appointment process (appointment or election) for a SEC Commissioner. In today's volitale market, the SEC leadership could be unfairly perceived as lobbyist in a important position intended to protect the market interest and economy.