Chipleader with 99's in the SB

[tiger7210]

I know I misplayed this hand both preflop as well as post flop and would like to get some comments to verify my 2nd guessing. My relevent reads are villain is a loose fish (typical for a $5 tourny I guess), and CO was fairly solid straight forward player. At this point I have a huge chiplead in the tourny by close to 30K chips and have only shown down solid hands. My thinking is I should have raised more preflop to try and win the pot right there being out of position postflop. My 2nd mistake I believe was not reraising him on the flop which is where I think I played it too weak. I put him on the flush draw which is why I put him in on the turn. Please comment on any or all streets. Thank you.

PokerStars No-Limit Hold'em Tourney, Big Blind is t1200 (9 handed) converter (http://www.selachian.com/tools/bisonconverter/hhconverter.cgi)

MP2 (t39729)
MP3 (t25672)
CO (t10348)
Button (t7341)
Hero (t64158)
BB (t36230)
UTG (t35766)
UTG+1 (t7310)
MP1 (t37438)

Preflop: Hero is SB with 9/images/graemlins/spade.gif, 9/images/graemlins/club.gif.
UTG calls t1200, UTG+1 folds, MP1 folds, MP2 folds, MP3 folds, <font color="#CC3333">CO raises to t2400</font>, Button folds, <font color="#CC3333">Hero raises to t4800</font>, BB folds, UTG calls t3600, CO folds.

Flop: (t12525) 2/images/graemlins/diamond.gif, 6/images/graemlins/heart.gif, 2/images/graemlins/heart.gif <font color="#0000FF">(2 players)</font>
<font color="#CC3333">Hero bets t7200</font>, <font color="#CC3333">UTG raises to t14400</font>, Hero calls t7200.

Turn: (t41325) 6/images/graemlins/spade.gif <font color="#0000FF">(2 players)</font>
<font color="#CC3333">Hero bets t16800</font>, UTG calls t16491 (All-In).

River: (t74616) T/images/graemlins/heart.gif <font color="#0000FF">(2 players, 1 all-in)</font>

Final Pot: t74616