March 7, 2009
I am expressing my concern about not having the up tick rule in place. This has cost all american trillions of dollars in their 401K. But the ultra shorts hedge managers have made a trillions at everyones expense. They have the ablity to push stocks down and make money on the way down this is keeping long term investor on the side line as soon as they start buying a stock the short jump in and start driving the price down for there personal gain. This rule was put in for a reason back in last depression for this very reason. I do not understand why you will not put the rule back in place. I know you say that it makes no difference but it does. Even the once a season hedge fund owner Jim Cramer say this is a huge problem. I have monitor a stock on a daily bases and as soon as it start up the % of short trades will increase up to 50% shorts trades during that hour to drive the price down. This keeps long term investors out and it destroys peoples 401k's account and it is not fair. Please look into this even call Jim Cramer (CNBC) he can explain this alot better then me. I known he would love to hear from you he has been talking about this problem for months and how the large hedges fund can munipulate this market. This is like a bully holding a small kid under water and not letting him up for air until he dies. Would you please reinstate the up tick rule while the american people still have less then 50% value in there 401ks.
Thank You
Carl Van Hoozier Jr