March 14, 2009
Dear Sir/Madam,
I would like to inform you that reinstating the uptick rule would put day traders in disadvantage as they already are if you compare them to market makers and hedge funds.
I just want to mention statistics that 95% of day traders fail.
Day traders add immense depth and liquidity to the stock markets.
The argument that uptick rule abolished in 2007 are reason for 50 % market meltdown are false.
Markets were hitting new highs after suspending the uptick rule which proves that uptick rule has nothing to do with that.
Day traders are part of the natural market force to bring stock prices to their fair value.
I understand that you have to do something and please do.
We live in the free world and wee need free markets and not to loose focus from real problems.
The big drop in the market is a result of mismanagement of the big corporations and stock prices are just reflexion of that.
Nobody ever complains when stock gains from 100 To 200% in a single day and when short sellers must close their position with big loses.
My point is just to keep fair playing field for everybody and if corporations are managed properly market will take care about them on a good way.
Best regards,
Zoran