May 4, 2009
THE UPTICK RULE WAS PUT IN PLACE AFTER THE CRASH OF 29 FOR A VERY GOOD REASONS. FOR 70 YEARS IT WORKED JUST FINE, PUT IT BACK TO ITS ORIGINAL VERSION OF ONLY SHORTING ON AN UP-TICK. MY QUESTION IS WHO REQUESTED THIS CHANGE ? YOU SHOULD INVESTIGATE THE TRADES MADE BY THOSE WHO ASKED FOR THE CHANGE. I WOULD VENTURE THAT THOSE WANTED THE CHANGE BECAME VERY HEAVY IN THE SHORTING BUSINESS AFTER ITS CHANGE ON JULY 7TH, 2007. CHANGES AREN'T MADE JUST FOR THE HECK OF IT, SOMEONE SAW A GREAT OPPORTUNITY TO BE ABLE TO BEAT DOWN STOCKS IF THIS RULE WAS CHANGED AND THEY COULD MAKE A LOT OF MONEY, PLAIN AND SIMPLE. SOMEBODY WANTED THIS CHANGED FOR A REASON AND IT WASN'T FOR THE AVERAGE INVESTOR. ANOTHER AREA THAT SHOULD INVESTIGATED IS THE "NAKED SHORT SELLING". HERE IS ANOTHER AREA THAT NEEDS TO BE REGULATED AND "ENFORCED". UNTIL YOU BRING A FAIR PLAYING FIELD TO WALL STREET THE AVERAGE INVESTOR WILL NEVER GO BACK. WHEN YOU KEEP CHANGING THE RULE OF THE GAMES TO THE REQUEST OF THE HEDGE FUNDS, LARGE FUNDS WHOEVER, THE FIX IS IN. PUT THE UPTICK RULE BACK TO ITS ORIGINAL VERSION, NO VARIATION OF NOT TODAY BUT OK TOMORROW DEPENDING ON A DOWN MARKET DAY OR THE SECOND TUESDAY OF NEXT WEEK. PLAIN AND SIMPLE, ONLY ON A UPTICK AS IT WAS FOR ALMOST 70 YEARS. THANK YOU I HOPE