October 8, 2009
Now that anyone can open a trading account online and affect the stability of the market and of a particular security I am strongly in favor of the Circuit Breaker as a temporary fix, but having a permanent Circuit Breaker in place would be wise to prevent crashes in the market in the future. Some crashes are based on rumor and emotion rather than actual facts. A permanent Circuit Breaker in place would help facilitate wiser decisions for inexperianced traders.
In the long term the uptick rule I feel would be the best.
Something needs to be done...and soon