March 5, 2009
Shouldn't the uptick rule for short selling be reinstituted? It appears that the short sellers are manipulating the market, especially the financials, by selling in huge volumes driving prices down. The uptick rule worked for many years. It only benefits the short sellers and hedge funds who are only interested in short term profits and not long term investments.
I am now out of the market and in insured CD's. I no longer trust the market and the institutions that run it. It will be a long time before I purchase stocks. If it is manipulated by the short sellers, the small investor does not have a place.
Respectfully,
David Stricker