May 14, 2009
I fully support reinstating the uptick rule and rigorous enforcement of the prohibition of naked shorting. The big money hedge funds can too easily manipulate share price downward with no reason other than their own greed and ability to do so. It's free money for them, particularly with the smaller float stocks. These funds can drive down share price by selling shares that they hold, create panic, and then capitalize on their massive short positions. It is pure price manipulation and I cannot understand why the SEC takes no action on this activity.