May 4, 2009
Please restore the uptick rule. I am one citizen, a retiree who depends on capital gains from my trading strategies for a living. I spent a lot of money learning how to trade in the markets, and went from making a good living, owning a home and having good credit to practically nothing because of the insane short selling that ruined the markets. Traders depend on being able to read technical charts and candlestick patterns, a language shared by traders worldwide, to make an educated decision. We also depend on a realistic connection between a company's financial fundamentals and its valuation. All of the math, sense and logic of the marketplace was destroyed when the uptick rule was rescinded, The result has been personal and near global catastrophe. The strength of America is that its citizens can participate in the markets, help provide capital for companies to operate, and share in the good for all. We're not slaves on the plantation, we're part of the team. That participation provides a sense of identification and unity with the world family and its economic gain, which is the American dream. Without the uptick rule, we can't trust the markets. You might as well just issue Wall Street either a hunting license, or a casino license, because we're either targets or rolling dice. For 70 years the uptick rule has worked, and I urge you to restore it.
Respectfully,
Milian B. France