May 9, 2009
Please bring back the original uptick rule. The uptick should be for at least 25 cents, as it was for 1/8 of a dollar in 1938. Brockerages should not be allowed to short their clients shares without direct permission before each and every transaction. They should not be able to hide this authority in the fine print of a client agreement. In addition, they should have to pay a fee for this.
All short etf's should be shut down, as there should be no exceptions to the new uptick rule. I, and most investors, no longer have any confidence that the SEC will do the right thing. Please restore this confidence and trust.