From: Rule-Comments
Sent: Thursday, August 01, 2002 10:46 AM
To: Rule-Comments
Subject: FW: Short Selling

From: 	Fj728@aol.com [mailto:Fj728@aol.com] 
Sent:	Friday, July 26, 2002 8:25 AM
To:	chairmanoffice@sec.gov
Subject:	Fwd: Short Selling

 Dear Mr. Pitt

See my attached comments to CNBC regarding the need to investigate 
short seller activities and in fact eliminate short selling all 
together.  You want to calm the markets and investors get rid of 
short selling. I've been an equity investor for over 30 years and 
have never sold a stock short, basically because I believe it's 
gambling. I've also never bought a stock on margin, which is another 
thing you should get rid of , though short selling is much worse, 
so please start there.

Thank you.
Frank Juliano
Boca Raton, FL


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From: Fj728@aol.com
Sent: Friday, July 26, 2002 8:06 AM
To: gettingreal@cnbc.com
Subject: Short Selling

Dear Power Lunch
When everyone's been talking reforms all over the place (i.e.,the Congress, 
the SEC,etc.) to help calm the markets and investors, I'm dismayed not to 
hear somebody coming out against short selling (SS). Buying a stock long 
provides a valuable function in our economy that of provide corporation 
access to equity financing . What function does SS provide? It is nothing 
more than gambling and should be eliminated by the SEC. It probably has been 
the root cause of the bulk of the market churn we've been seeing and if 
somebody would get off their duffs and investigate they'd probably be found 
out as the starters of most rumors on the floor.
The prime example would be the rumors of bankrupcy filing around Tyco that 
hit the market yesterday and the stock went down $3+, which were nonsense 
after the infusion of cash from their sale of CIT. Why doesn't the SEC find 
out who started it and punish them?
Frank in FL