Subject: File No. S7-26-08
From: Andrew Lwin

November 12, 2008

Dear Sir/Madam,

SEC should ban short-selling and use up-tick rules. Short-selling is good for paper trading, not good for electronic trading. It is very easy to do stock market up, just ban short selling and use up-tick rule. We don't need interest rate cut or nothing else.

Short-selling cause:

  1. DJI down below 8000 point very short time.
  2. Bankrupt Companies because share values drop so quickly.
  3. Stock market too volatile, upset the market.
  4. Investors (who invest their retirement money) scared of stock market for good.
  5. Stock market will collapse very soon if all real investors (who invest their retirement money, not wallstreet trader) take their money out and they never save/invest their retirement money. I will never save retirement money because I don't want to lose my money.
  6. People see stock market is not for investment, for gambling. They think SEC (government) encourages gamblers, not investors. They think stock market is the legal internet casino.


Andrew Lwin