May 9, 2009
Uptick Rule Comments:
05/09/2008
Dear SEC,
As an individual investor, I have been watching the stock markets operate through this latest economic downturn. I believe that unsavory activities, such as naked short selling and programmed leveraged short activities have brought our markets down much farther and faster than could ever have been done before. This phenomenon could be held in check by the re-installation of the "Uptick Rule" and perhaps other checks and balances.
I believe that the markets have been artificially manipulated to the downside by the allowing the use of large leveraged, programmed block sales. Without the safety or check of the Uptick Rule, and perhaps other checks and balances, our stockmarkets are become "set-ups", or dangerous places for individual investors, like myself who can only buy and sell shares of one individual stock at a time. There is not an even playing field out there.
The safety of our U.S. marketplace is dependent upon the sensitivity, vigilance and oversight of the SEC. Our market in its best days was comprised of many kinds of investors. I would safely say that all but the most savvy investors have decided to sit this market out for a while. That needs to change in order for our markets to operate in a healthy manner.
Until there are greater checks and balances in our marketplace, our markets will experience continued volatility, creating a lack of confidence in our overall economy. In a nut shell, the public needs a safe place to invest their life's earnings and until that perception is held on Main Steet, our economy will continue to suffer.
Can you please help make our stock markets a safer place?
Thank you,
Frances Wilson