Date:    12/08/1999  3:17 PM

Subject: S7-24-99

     
Dear SEC: 
     
Regarding the proposed law concerning the short selling of OTC-BB 
stocks(Proposal # S7-24-99),  I feel the naked shorting of OTC-BB stocks should 
be eliminated. 
     
Penny stocks are risky and volatile not solely because of the companies 
themselves  (and there are some good ones), but because of the rampant naked 
shorting by market makers and 
offshore brokers, mostly without having to borrow the shares and without 
"up-tick" or any other 
limitations. 
     
This activity goes unchecked everyday and must be dealt with accordingly. 
Unchecked and 
out-of-control chaos and deception seems to run rampant day after day. 
     
Unregulated Shorting is used as another weapon against bona fide investors who 
are 
squeezed out by unscrupulous manipulators and shorters. 
     
The abolition of naked shorting in conjunction with the requirements of being 
fully reporting will 
ensure a more 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. 
     
Of course, much more needs to be done but finally, in my opinion, we are getting
some action 
and regulations to protect investors a lot better. Keep up the good work ! It is
needed ! 
     
Respectfully Submitted, 
     
Vicki Gleeson
     
Lglees19@idt.net