From: Jack Fenchel [jlfenchel@zoominternet.net]
Sent: Tuesday, November 25, 2003 5:10 PM
To: rule-comments@sec.gov
Subject: S7-23-03:

Proposed Rule Change,
 
Short selling in the market is out of control.
Of all the proposed rule change, none of them will slow down short selling
and market manipulation.
My opinion, a 1% cap short selling on the float.
Adjust the % Up / Down each year.
No short selling of all new IPO's for 1 or 2 years.
Look at Microsoft MSFT short selling.
Short % of Float.................1.28% 
Shares Short..........117.63M,  way too many, My opinion.
      Share Statistics  
      Average Volume (3 month): 60,182,772 
      Average Volume (10 day): 87,041,000 
      Shares Outstanding: 10.81B 
      Float: 9.23B 
      % Held by Insiders: 14.66% 
      % Held by Institutions: 53.99% 
      Shares Short (as of 8-Oct-03): 117.63M 
      Daily Volume (as of 8-Oct-03): N/A 
      Short Ratio (as of 8-Oct-03): 2.094 
      Short % of Float (as of 8-Oct-03): 1.28% 
      Shares Short (prior month): 123.63M