March 7, 2009 11:30 PM
Are you all investigating the below referenced fund / funds like it? Or, do you consider nothing to be wrong with their methods?
Please read the following:
Cramer is directing the same level of energy toward eliminating ultra-short ETFs as he did in
demanding the Federal Reserve open the discount window back in August 2007. (You all
rememberThey know nothing!”!right? See bottom video.) Regular Mad Money viewers have
heard his calls to the SEC before. He wants the UltraShort Financials ProShares [SKF 250.07
7.22 (+2.97%) ] fund shut down because short traders are using it to hammer down financials
stocks virtually unchecked.
This is the fund that turns a $1 investment into $3 –!an SEC-approved skirting of its own margin
rules putting even more pressure on the banks than the credit crisis has. That, of course, is why
the shorts like the SKF so much. They’se kicking the sector when it’t already down, making a
hefty profit in process.
Watch the video for Crames in-depth analysis. He puts the importance of short-selling rules in historical context as in, lessons learned from the Great Depression –!debunks the reasoning that former SEC Chairman Christopher Cox used to get rid of them, and explains how the SKF is aiding in the destruction of Citigroup [C 1.03 0.01 (+0.98%) ] , Bank of America [BAC 3.14 -0.03 (-0.95%) ] , Wells Fargo [WFC 8.61 0.49 (+6.03%) ] , US Bancorp [USB 8.82 - 0.19 (-2.11%) ] and many other banks.
----- Original Message -----
From: Ron Solley
March 2, 2009
Are you all considering reinstatment of the Uptick rule?
Multiple, experienced, market affiliated people believe that the stocks of companies are being unfairly punished (notwithstanding the effects of the current economy), due to the repeal of this rule.
The retirement accounts of many are being adversely affected.
Thank you for your consideration.
Ron Solley