May 10, 2009
Please reinstate the uptick and naked prohibit short selling. I refer to short sellers as "SNS" ( SHORT N SNORT ) They short a stock then go around snorting like an old hog. You can monitor the YAHOO message boards and find hundreds of lies they enter there hoping to scare some of us longs into selling and driving the price down. I estimate that negative news ( lies ) are 10 times more effective than postive news in prompting a trader to react. At least impose the restrictions for 12 months and see what a positive and leveling influence it will have.
Thank You