March 24, 2009
Bringing back the up-tick rule is a change being made out of haste not for substance. Politicians dot know any thing about trading the markets, so don’u give in to the pressure to just do something. The up-tick rule will not keep poorly managed companies from going bankrupt. The financials bottomed because of their fundamentals not because of short selling. Market participants only want a level playing field. The only benefactors of the up-tick rule will be long only funds. This is not fair. Placing barriers in front of short sellers is as stupid as suggesting that a trader should wait on a down tick before being able to go long.
Make real changes that will benefit all market participants not a select few.