July 30, 2008
Naked short selling on ALL Securities should be banned. Who is to say the stock being shorted is even available? who is to say they are not shorting more stock than is even floated? Furthermore, the SHORT-UP-TICK RULE needs to be put back in place immediately and adjusted for the change from fractional to decimal trading in securities. Naked shorting and no uptick has given some greedy shorts, who care about nothing but making money at any cost, even if it means destroying shareholder equity. I feel the removal of the up-tick no-matter how small that up tick was allows criminal-like shorting, a short, or a group of shorts can just keep on pulling that sell trigger pushing a stock to ZERO.
My theory is that it has become too easy for shorts to act in a criminal way.
Why in god's name??? would we make it easier for a sophisticated few and harder for the average investor like me who only believes in the good old buy it if you like it, sell it if you don't.
The average small-time investor does not short
GOD BLESS AMERICA-
BAN NAKED SHORTS-PUT THE UP_TICK RULE BACK NOW
STOP THE GREED OF A FEW THAT IS DESTROYING THE MASSES