March 11, 2009
Please do NOT reinstate the uptick rule.
Did it stop the crash of 1987? No.
Did it stop the crash of 2000-2001? No.
Did it stop financial stocks from falling last year when the rule was reinstated for them? No.
But what it does is make investing and trading much more difficult for a small independent investor/trader like myself.
A company that deserves to be shorted should be able to be shorted without government regulation or interference.
The SEC studied the uptick rule extensively during a test and determined that it brought no value to the marketplace.
So please...do not bring back this useless rule that only causes difficulty in trading and removes liquidity from the market.