Subject: File No. S7-24-15
From: Sean Davis

February 19, 2020

Leveraged inverse ETF funds are important tools for price discovery. It is a fund that basically will not drop below 0, unlike a true short of the market. In a free market I should be able to buy the funds that support my investments. If I was buying on margin, I could understand the need to see that I could cover my loses through validation of my risk of default. In this case, this case, the fund would basically never go negative, so who are you actually protecting me from? My guess is your protecting the Federal Reserve and their need to keep the market in a constant state of upward rise, less a recession hit. That's not a free market principle and it's not the America I want to live in. Get it together and let price discovery have its day.