January 25, 2010
The rumor is SEC wants to introduce a timid uptick rule on an equity when its price has plunged by 10% a day. So on Monday shorts short the equity upto 9.99% lower for the day and cover at that point. Tuesday shorts short again the same equity another 9.99# for the day and cover at that point. Shorts repeat this process for the next few days. Isn't this a controlled bear raid? If indeed this happens to be the final rule let us admit the Hedge funds as always are victorious, we the small investor general public for reimplementation of shorting only on uptick rule see the hand slap but are no fools