May 8, 2009
The elimination of the uptick rule in June 2007 obviously made enduring the bear market much more difficult for public investors. The "piling on" by professional traders, made it much more difficult for investors long a stock that is downtrending to get out of the stock in a reasonable manner. While anyone who actually owns a stock should be free to sell it at any time, downward pressure from those who do not own a stock should be controlled. The public interest has definitely not been enhanced by elimination of the rule and it should be reinstated.