May 5, 2009
The original uptick rule functioned just fine for 70+ years and it functioned quite well eliminating the uptick exacerbated an already precarious market situation.
Additionally, the ability to sell naked shorts must be eliminated it provides a mechanism to put unrelenting downward pressure on an otherwise healthy stock. Short selling no longer appears to be related to a company's financial health and is used more as a psychological tool to manipulate a stock's price down to garner excessive returns at the short seller's whims.
Please understand, there is an all out assault on capitalism at this time and we are at a critical juncture. Other triggers are probably not needed at this time restore the uptick rule and eliminate naked shorts for starts. Restore what was before adding anything new.