May 5, 2009
Please act to ensure equilibrium in and, to bring confidence back to our stock markets.
Make it that hedge funds must register with SEC and provide transparency to both the Commission and investors of the United States. Ensure that their short positions should be revealed for all to see on a moment to moment basis.
As it is we attempt to invest in a casino environment where they change the rules frequently and always to the particular dis-advantage of the individual investor and small-cap companies. The use of naked short selling has proven to make for very unstable markets. Many citizens have been hurt financially, myself included.
Please eliminate "zero plus" tick short sales.
Please adopt a proposed modified uptick rule.
Additionally, please establish a circuit breaker to stabilize a temporary aberration if it is caused by naked short selling (only).
Please provide oversight of market makers that too often take un-due advantage of their position.
Please moniter programmed trades whereby the sale of stock ratchet down, bringing stock price down and whereby those with stop-losses placed are intentionally harvested. A review of trades made by market makers or others in concert, would reveal this criminal activity. They simply should not be able to manipulate pricing to fill their positions and literally steal shares from folks trying to simply utilize a prudent stop loss to insure their retirement or other accout.
Our markets must be cleaned up. No use beating up the SEC for the past mistakes, if the job is actually being done currently. See to it is.
Our citizens deserve an orderly market and a level playing field. The Securities Exchange Commision is tasked with just that, please act.