May 12, 2009
PLEASE bring back the UPTICK rule. This rule could have helped prevent some of the damages we saw in the market from 08-09. Level the playing field for everyone do not favor short sellers and those ETF's that hurt stocks of everyones retirement/savings. These guys are playing a high stakes game with a loop hole in the law that was opened. The data used to remove the original uptick rule was based on 2005 statistics, that was a prosperous year, how is that working for us now? This is the type of market that a decision like that should of been based on, which shows its failure.
I am not someone who works in the market, nor am I an academic on the matter, I am just a US citizen who has watched his 401K get decimated and asks what the hell has happened. I have been watching a variety of shows on CNBC such as Mad Money and the Kudlow report. These guys have opened my eyes I hope someone can help us average guys to have faith in the stock market again.