May 5, 2009
I would like to join the chorus of small investors who would like to have the up-tick rule reinstated. The rule served investors well for many years. There was a reason it was instituted and the recent past demonstrated the need all over again. Without the rule in place hedge funds and other "traders" ganged up on various stocks and sold them short, often nakedly, to drive down the price whether there was a fundamental problem with the stock or not. Those of us with limited resources ended up as victims of this activity. Reinstating the rule will slow this activity down or stop it. Also, while I am not totally against short sales I believe those who try to manipulate the market with naked shorting should be stopped and punished.