June 10, 2009
I think it is very important that the uptick rule be restored. Today's market is totally different than the markets in the 1970s and 1980s. Now, there are many many daytraders who buy and sell a number of times every day. Some of these daytraders never BUY LONG, and always SHORT stocks. That was never the case in the 1980s.
Once the uptick rule is restored, I feel that the stock market will be a much better place for investors (who are long) to see their investment accounts rise, so that they are able to use the stock market as an effective way to save for retirement. Without the uptick rule, the market will continue to be a very unstable place for investors to put their money.
Richard Cohen, B.S. Economics, 1974, MIT
M.P.A. Public Policy, 1976, Woodrow Wilson
School at Princeton U.