Second Comment on Proposed Short Sale Rules with additional information.
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Secretary Mary Shapiro and Commissioners,
Please make the U. S. Stock Markets investor friendly to increase investor confidence Please consider the following suggestions:
(1) Return the up tick rule maybe making the Up-Tick a $0.05 or $0.10 instead of $0.01.
(2) Require borrowing of shares not just an attempt to borrow shares (naked shorting).
(3) Create transparency by showing short stock movement in charts along with the price of the stock. This will allow investors to avoid stocks that are heavily shorted.
What good is a law without Real-Time Tracking capability to insure only Lawful short trades of all types are traded in the stock markets.
If at the time stock is borrowed for the purpose of shorting, an Electronic-Tag is placed on each share of stock, each share of stock can be tracked by computer systems. Some may say this is to big a project and it will slow down computer trading. Not True:
June 10, 2008
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An example of uncontrolled short sales is Citigroup ( C ) NYSE.
According to CNBC Television Citigroup ( C ) has
22.6% of its stock shorted.
Please make rapid changes.
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Robert E. Solomon