May 31, 2009
I believe that it was a drastic mistake to repeal the uptick rule as it stood since the 1929 market crash. I am opposed to the modified-uptick proposal or security specific proposal. I am of the belief that the previous Uptick rule on short selling best served the investor community. Enough time has been wasted and too many people have lost their retirement savings due to the mistake made repealing the uptick rule. The old rule was market tested and should be reinstated as in the old form as soon as possible.
Thank you,
Ted Antila, MBA