From: CT Carbs 
Sent: Friday, April 09, 2004 3:45 PM
Subject: (nasd-2004-031) REG SHO RULE 3370 and new proposed market maker
rule

What you have done by suggesting and implmenting some
of these is completely IGNORANT and BIASED.  You have
effectivly STOPPED almost all shorting of low priced
stocks and therefore created a one sided market.  Do
you understand this?  From speaking to quite a few of
you you have NO DAMN CLUE.

Look at BOCX for instance.  It went straight up and is
on its way straight back down,  no shorts to slow it
down and none to hold it up when it falls.   THE EXACT
OPPOSITE OF WHAT YOU TRIED TO STOP!!  VOLATILITY

  You "Claim" to want to curtail manipulation of small
companies stocks by forcing shorts to get the borrow, 
however there IS NO BORROW ON CHEAP STOCKS!  You have
GIVEN THE SCAMMERS A FREE PASS!  There is no research
coming from shorts as there are none in the cheap
stocks anymore.  To add insult to injury the NASD
proposes a marker maker rule which removes the
exemption the market makers need to make a freaking
market.  Why even have market makers?  If you EVEN
consider passing that rule you should be LOCKED UP and
NEVER ALLOWED TO PASS ANY SECURIITES RELATED TRADING
LAW AGAIN!  

What happened to a free market and fair trading?  Why
are you STOPPING betting against stocks??  You are
obviously ignorant and you will PROVEN so in the next
few years if you pass reg SHO and the newly introduced
NASD rule which WREAKS of manipulation and unfairness.

 You will see how high stocks go up and how they come
right back and you will get even MORE complanits about
people losing money.  You have delt a blow to the
cheap stocks so hard that you cant even comprehend the
seriousness of.   Sincerely,  Short Seller