June 18, 2009
Pleas RESTORE the "UPTICK RULE" in its previous form which--since the great depression was intact-- until recently was eliminated.
Also would like to see proper oversight of covered SHORT SELLING, and elimination of "NAKED" SHORT SELLING.
Additionally, would like to see leveraged exchange traded funds and credit default swaps researched and possibly limited with the goal of maintaining market stability.
I and many others feel this keeps confidence for investors in the stock market, with less chance of stocks getting run down in a stampede(bear raid) needlessly and dangerously.
I believe that lack of an uptick rule contributed and made worse the financial system melt down last fall, 2008, contributing to lack of confidence in the financial institutions and their stocks, since their stocks were being run down so quickly by short sellers.
Reinstatement of this rule should bring market confidence back to individual investors that are fearful of such happenings quickly ruining their lifetime dollar savings/investments.
Without the uptick rule, many idividual investors are more likely to lose substanitial nest egg savings that are invested in the stock market.
Thank you.