From: Rule-Comments
Sent: Thursday, August 01, 2002 10:49 AM
To: Rule-Comments
Subject: FW: Short Selling (s7-24-99)

From: José Almenara [mailto:jalmena@invermundo.com]
Sent: Wednesday, July 24, 2002 2:52 PM
To: chairmanoffice@sec.gov
Subject: Short Selling

 

Dear Sir:
In my modest opinion, the short selling transactions  in the currently 
market crisis, is like to throw gasoline to fire.  I think that the SEC 
must suspend for a while this type of trades.  In other words, the real 
selling market must be based in real selling of positions.  Only the 
big market's protagonist, as for example: ECN's, Hedge Funds, etc. are 
the big winners of this critical situation.   They have today the 
sufficient force to handle the market and they know  that is easier 
and quickly to earn money in a market downturn that when it goes up. 

Best regards
Jose Almenara