LeavesFrom: Malcolm Steed [msteed@intertex.net]
Sent: Sunday, September 09, 2001 8:41 PM
To: rule-comments@sec.gov
Subject: File No. S7-24-99, Release number 34-42037 





If the SEC removes the Uptick rule I would expect shorting to get even 
more devastating. Also naked shorting is out of control where Market 
forces just create stock by sitting on the Ask selling all they can. 
Then manipulating the market to fall so they can cover what they have 
sold. If they can’t they spread the bid ask to unbelievable spreads to 
stop the interest and thus reduce the amount of resistance to take the 
price of the security down. This to  me is the potential of gain that 
is the motive for Manipulating the market.

Look at the state of the market now with Fund managers and a lot of 
people setting on the sidelines because shorting is out of control 
(along with naysayers). Shorting regulations should be tightened or 
allow joe public to participate. 

M Steed