June 3, 2009
You must reinstate the uptick rule to protect the retail and small investor. Without this reinstatement the market will never be judged as fair, balanced or worth the unfair risks created by the SEC removing a tried and tested 70+ year old rule. The playing field has now been tilted against the average investor in favor of the huge fund managers. The only way to stop the naked short sellers, which as you know can be found raiding and trading in almost every stock on any given day, is to reinstate the original uptick rule. By modifying the original rule you are only kowtowing to the large money managers, exchanges looking for volume, and hedge funds which ensures the small investors and 401k participants are treated as second class citizens.
Sincerely,
Kevin Adcock