Dear Mr. Katz,

I do not support Regulation SHO because it would further deteriorate market liquidity and price efficiency. Making it more difficult for traders to sell short would increase price manipulation of overvalued stocks. Restricting short sales makes it easier for institutions to inflate the price of a stock and dump it at the expense of the investor. Short sellers help to maintain the integrity of the market by correcting the price of overvalued stocks.

I support the elimination of the bid test rule in order for buyers and seller to create a more efficient market. If there are buyers and sellers willing to execute a transaction at a given price, I see no reason why there should be any restrictions to the trade. Unrestricted short selling would greatly increase a lot of the liquidity and volatility the market has lost over the last several years. In conclusion, I don't think Regulation SHO helps to protect investors or the integrity of the markets.


Ryan Wolpert
Registered Equity Trader