May 5, 2009
Dear members of the SEC:
Please reinstate the uptick rule as it has been for the previous 70yrs! The recent recession/depression has somewhat mirrored the depression of the 30's! I along with the majority of the average laymen wonder why the advantage would be given to "short-sellers" as apposed to those who want to invest money in the market to raise capital for businesses.
I am in my mid 60's and lost over half my retirement investment because the market came down so fast and so deep the I panicked and took my money out at the lowest point in the market after being fully invested for over 15yrs. I am not so sophisticated that I can "play" the market but only invest.
Please do not succumb to the pressers of a few at the expense of many!
Sincerely:
Art Welch (average investor)