Subject: OTC-BB Stocks-Short Selling
Author:  <Kandtwebb@aol.com> at Internet 
Date:    12/07/1999 8:54 PM
     
     
Dear SEC:
     
I am writing in regards to the proposed law concerning the short selling of 
OTC-BB stocks (Proposal #S7-24-99). The naked shorting of OTC-BB stocks 
should be eliminated.
     
This is often the cause of risk and volatility in penny stocks. The market 
makers and offshore brokers can short these stocks without having to borrow 
the shares or any other limitations. This goes on unchecked and creates 
deception and false price presentation.
     
I am a father of two small children who is trying to make a go of it with 
limited funds and college approaching for them. I do my research diligently 
to identify a growing stock with great potential. I identified such in RMGG, 
but instead of it growing as expected and as "demanded" by lined up buyers 
and great interest. It was squashed by market makers to meet their short 
requirements before year end. Just look at the practices employed for the 
first week of December!! It has to be stopped so small investors such as 
myself can have confidence that the stock they invest in can be treated 
without bias by the so-called marker makers(breakers is better). I understand 
the American way to make a buck, but to do it falsely and without fear of 
retribution is sickening. After all, how does large numbers of shares end up 
being sold at much less than price offered and  buys be stacked up at higher 
prices and  be delayed for hours for no logical reason. To create the old 
panic sell-off, because most small people like me have no access to secondary 
info that details such! These false presentations must be stopped. You left a 
lot of angry investors dismayed over this one three day period for one 
stock-how many others were there too from other listings. You can't ignore 
it, it is out-of-hand.
     
Thank you for your attention and I hope you will clean this up.
     
Sincerely,
Kenneth Webb
kandtwebb@aol.com