Dear Extended Family

I implore you to act. Send this or an email in your own words to Chairman Shapiro of the SEC.

All gold shares are small caps. That is why they have been prey to these destructive elements.

This site is read by 500,000 people.

Please make this small effort for the hard work we do to help you all on a daily basis.

Please remember in the body and in the subject to say, "In support of the above bid short selling rule."

Email your response to: chairmanoffice@sec.gov

Sincerely,
Jim

Dear Chairman Shapiro,

Subject: In support of the "above bid short selling rule."

As a seasoned investor and due to hedge fund organized short raids pounding all bid in sight, markets in general and financial institutions specifically collapsed in March and are still on very precarious grounds, despite help from the "invisible" hand of the Fed. Many smaller stocks have never recovered, despite a solid future ahead of them.

I understand that you are still soliciting commentary on the matter of the Uptick Rule (above bid rule) and short selling. Illegal short selling persists and investors are being unduly punished for the benefit of "rogue traders" and under the pretext of maintaining liquidity supported by academic studies and a large parade of self interested professors.

I have no problem with legitimate short sellers. Naked short selling (the most damaging of all) via Canada and other non-US sites persists, despite the fact it is considered illegal. What do you need to see to reinstate integrity to North American financial markets, and save investors, pensioners and businesses (large and small) that have been the foundation of a thriving America?

The time has come to take action. The frequency trading, front running, quasi-derivatives, insider trading and wanton naked short selling make a mockery of our markets. They make Mr. Madoff look like a Saint. Everyone knows it. Who will be left to trade at the end of this?

Chairman Shapiro, I realize it takes time to get up to speed on the issues confronting your organization. Please hurry, time is not on our side. You and I are getting older and future generations will pay the consequences of our inaction.

Thank you for listening,

Best Regards,
Jim Sinclair

SEC Seeks Comment on Alternative Uptick Rule

FOR IMMEDIATE RELEASE
2009-185

Washington, D.C., Aug. 17, 2009 — The Securities and Exchange Commission today announced that it is seeking public comment on an alternative approach to short selling price test restrictions that may be more effective and easier to implement than previously proposed price test restrictions currently under consideration.

Additional Materials

• View comments received for this proposal
• Submit comments on this proposal

The alternative uptick rule would allow short selling only at an increment above the national best bid. As a result, the Commission has determined to reopen the comment period for 30 days in order to receive input specifically on this alternative.

"Today’s request for additional comment is consistent with the very deliberative process of determining what is in the best interest of investors," said SEC Chairman Mary Schapiro. "We want to ensure that everyone has a full opportunity to provide their comments on this alternative uptick rule before the Commission reaches any conclusions."

In April, the Commission proposed two approaches to restricting short selling. One approach would apply on a market-wide and permanent basis, and would implement short sale restrictions based on either the last sale price or the national best bid. The other approach, considered a "circuit-breaker," would apply only to a particular security during severe declines in the price of that security. Once triggered, the circuit breaker would impose a short sale halt or short sale restriction based on either the last sale price or the national best bid.

Unlike proposals in April, the alternative uptick rule would not require monitoring of the sequence of bids (that is, whether the current national best bid is above or below the previous national best bid), and as a result the alternative uptick rule would be easier to monitor. It also may be possible to implement this approach more quickly and with less cost than the prior proposals.

The initial comment period for the April proposals ended on June 19, 2009. The comment period will now be extended for 30 days from the date of publication of an associated notice in the Federal Register. The Commission particularly seeks comments on the alternative uptick rule as a permanent market-wide approach, as well as whether the alternative uptick rule should be combined with a circuit breaker approach.

# # #

http://www.sec.gov/news/press/2009/2009-185.htm

Filed under: General Editorial

Dear CIGAs,

Here is the answer being received by CIGAs in return for their comment on support of the "Above bid – up tick short selling rule."

Let’s get 500,000 comments in to the SEC on this proposed rule.

To not act is to sit back and let the pounding shorts have their way with your investments.

Thank you,
Jim

Thank you for your e-mail to the Chairman’s Office of the U.S. Securities and Exchange Commission. Your comments and concerns are very important to us. Unfortunately, because of the large volume of e-mail received, the Chairman can not personally respond to each message. We do read and carefully consider the opinions expressed in all of the e-mails that we receive.

If you are an investor with a complaint about a securities professional, firm or a public company, please visit our Complaint Center, at http://www.sec.gov/complaint.shtml, to file a complaint. If you have a securities-related question, please visit our website at http://www.sec.gov/answers.shtml to find fast answers to your questions and solutions to common investment problems. If you are a securities professional needing assistance on technical matters, please check our "information for" pages on the top right of our website, www.sec.gov.

We deeply appreciate your taking the time to communicate your thoughts and concerns to the Securities and Exchange Commission.

Sincerely,

Mary S. Head
Acting Director
Office of Investor Education and Advocacy
U.S. Securities and Exchange Commission