May 4, 2009
We need a $0.25 simple up tick before a stock can be shorted and no circuit breakers and other gimmicks that favor large traders. One must consider that
1.With the increase of markets around the world and the recent laws of the US many forgein stocks have stop listing on the US stock exchanges. This has resulted in less volume and makes given stocks and the market much easier to manipulate.
2.The advent of double tripple up down ETF's and the leverage they bring greatly affects the market for the small investor. This allows the large "Wall Street" firms to easily manipulate the market. A reasonable up-tick rule would help minimize the determental effects of these ETF's.
3.The up-tick rule was used for approximately 70 years with no bad effects. In fact it was put enacted to prevent large market swings to the downside after the great depresion. It worked for many years with no problems. Only the large "Wall Street" firms wanted it removed.
4.A up-tick rule will help make the market more friendly for the small investor.
Thank you for considering this matter.