May 4, 2009
The uptick rule worked for over Seventy years please reinstate the uptick rule. One must look at the intent of a rule before it gets abolished. It worked fine just after the great depression it appears to be a well proven rule. Short sellers have advantage on the market without the uptick rule. The average investor buys stock to support a company a select few would only invest in a stock hoping it goes down.
Without the uptick rule it gives the short seller an unfair advantage. It is as if betting on a football game and in each respective quarter the team is losing by seven so in th next quarter you bet against the team losing in each respective quarter. Not bad if you are let to bet on a game in this fashion.
It is ok to change something but it takes good and strong leadership to revert back to how something that was already in place. Thank You for a chance to comment on the reinstatement of the uptick rule.