February 2, 2009
Dear SEC Chairperson,
I am strongly in favor of reinstating the up-tick rule that only allows additional short positions to be put on when the underlying security ticks up.
I am firmly convinced that there is much naked short selling currently going on in the markets. While I realize that the ban on naked short selling is a difficult rule to enforce, reinstating the up-tick rule will greatly alleviate the market manipulations that I feel are going on today.
Sincerly,
Robert Altman