May 5, 2009
I support the permanent uptick rule for ongoing market stability. The ever-changing rules do not serve my interests. I want a level playing field first, and to maintain the same every time I trade every day. The proposed and modified options are "irregulations" dependent upon conditions for sales and sells. There is a place for shorting stocks, but we have perverted the tradition by allowing these transactions to weaken investors' trust in the market's functions. I favor a believable and static control to correct past SEC lapses in protecting small investors such as myself.
I do not believe that the uptick rule I favor would hamper investment, because the market runs or collapses on credibility as evidenced by performance. The ability to manipulate or influence that with massive shorting favors only those who can benefit from its abuse. Honest loss is my fault catering to extreme shorting as a lifestyle is money out of my pocket because of lack of oversight and control in the duties required of the SEC. I ask only for a fair shake and some much-needed protection in light of the losses I have sustained, and I believe they are the product in large part of those in the market who can beat a stock's worth down with advantages they have been handed and the indifference to the demonstrated and ongoing need for a return to sensible control, diligent oversight, and some agreed upon limitations that is just and fair for every transaction. I appreciate the opportunity to share my frustration with the current state of affairs, and hope that the eventual decision is not another catered affair, by which I mean diluted decision, which though on the books retains favored trader status that is the current status quo.