May 5, 2009
My commit about the up-tick rule is put it back in place. I hear from people that have never traded, nor have lost millions of dollars, talk about how unimportant this rule is. I have heard the committee say that their is no evidence to support the up-tick rule, If that statement is true it should no problem to put it back in place The SEC may not need the rule if you could enforce the naked short selling, but you do not. I see no desire on the commissions part to stop the market manipulation and destroy the retail investors wealth and trust in the system. Putting the up-tick rule back in would help restore trust, but stopping the ETF that double or triple the short or long position, another form of market manipulation, would also help. I will do everything I can to support congress to investigate this destruction of wealth and trust.
Robert Angove, Santiam Mountain Investment