May 4, 2009
As a retail investor, I am of the belief that a market-wide uptick rule is appropriate. (A market-wide short sale price test based on the last sale price or tick (a proposed uptick rule). And, the uptick needs to be wide enough to accomplish the goal.
It is clear that it was a mistake to eliminate this rule that served us well for the prior 70 years. And, it has been a mistake to allow the creation and implementation of double and triple short ETF's. It is obvious to me that these vehicles can and do move the markets in radical ways during the start of the trading day and at the end of the trading day...They need to be banned in the name of market stability...The volatility has caused too much fear to enter the markets and in-turn caused retail investors to be shaken out of the stock market at precisely the wrong time.
Thank you for your time and attention.
Sincerely,
Anthony G. Walker