May 4, 2009
I am in favor of a Market-Wide, Permanent Approach for short sale price restrictions. I feel that the present state of affairs is not acceptable and have made the market too unstable. Many average-type investors are aware of some very unusual movements of the market during a trading day. These strong moves seem to happen for unexplained reasons, but I suspect they are caused by the short sellers driving the market to their advantage. I personally feel this is unfair to a vast number of average market investors and that these individuals are feeling untrusting of how the market is working these days.
I feel it is not good to have the market operate with a uptick rule. Let's get this market back into shape and operating with a higher level of trust and honesty.
Proposed Uptick Rule: A market-wide short sale price test based on the last sale price or tick (a proposed uptick rule).
Sincerely,
Harry W. Ventin