May 10, 2009
Please re-instate the Uptick rule in regards to short selling EXACTLY as it was prior to your decision to remove the rule in 2007.
Do not replace the old Uptick rule with some watered down version. You should restore the same exact rule as it was in place since the great depression and up until 2007.
You propose several options that you are considering but missing is a proposal to restore the Uptick rule as it was prior to being abolished by the SEC. You do not state why you are not considering restoring the old uptick rule.
You must consider this as one of your proposals. In reading the comments submitted so far, it appears unanimous that is what investors want.
Please do not side with the industry of shortsellers and brokers who capitalized on the rule removal by destroying the value of the stock market these past two years.
Of your watered down proposals, the Uptick rule using National best bid appears to be closest to what was in place. If you are not open to restoring the Uptick rule as it was, then this option, is least objectionable.