April 21, 2009
SEC,
I strongly encourage you to withhold from reinstating the uptick rule. Although I am a full time student of upper echelon philosophy, I spend upwards of 20 hours a week conducting my own market research and executing trades to put food on my plate.
I bring a predominately arbitrary viewpoint to your table, and I can confidently tell you this, short selling is not the cause of this crisis, and reinstating the uptick rule will only reduce transparency for a temporary (that is to say, superfluous) gain.
You have already completed your own sound research and concluded that short selling is not damaging to the market. Furthermore there is a plethora of foreign markets who have upheld the rule, and suffered similar or greater losses than our exalted nation has. Let us also remember the lack of protection the temporary reinstatement of the rule provided earlier this year.
Lastly, resist the unsound claims from the sensationalist media pundits and the rash demands from the whimsical, uneducated masses, the USA is a democratic republic, and therefore charges YOU with the responsibility to make sound judgments on the actual state of affairs, which clearly lacks a causal connection between removal of the the uptick rule and significant market decline.