May 4, 2009
I believe that the previous uptick rule that was in place prior to 2007 should be reinstated in full. Additionally, "naked short selling" should be banned and violators should be vigorously sought and prosecuted.
The absence of such rules has no only favored traders who have little interest in "investing" in companies, but in creating volatility and movement withou regard to the companies whose equity they trade nor those of us on "Main Street" who are INVESTING our savings.
The SEC should admit that the removal of the uptick rule was a mistake and take immmediate steps to aggressively reign in the predatory practices of short sellers.