Subject: Abolishment of naked shorting on the OTC
Author:  <vinny03@mindspring.com> at Internet 
Date:    12/07/1999 7:15 AM
  
     
Dear SEC
     
I am writing in regards to the proposed law concerning the short selling of 
OTCBB stocks(Proposal # S7-24-99). The naked shorting of OTCBB stocks should 
be eliminated. One of the main reasons why "penny" stocks are so risky and 
volatile is not solely because of the companies themselves, but because of 
the rampant naked shorting by market makers and offshore brokers. This 
activity goes unchecked everyday and must be dealt with accordingly.
     
The abolition of naked shorting in conjunction with the requirements of 
being fully reporting will ensure a fair and equitable market for investors 
and companies alike, a market where a company's true value is reflected in 
the price and not distorted, suppressed or inflated artificially by 
manipulation.
     
Sincerely,
     
Mike Thomas