May 15, 2009
The loss of the uptick rule in 2007 significantly and almost immediately affected the results of my investing which supplements my income as a military widow and retired civil service employee. I had not paid attention to the stock market until my husband died and I had to take over the rather small investments we had. I felt I was doing quite well considering the small amount I could risk and the experience in the market. I did not use the services of an advisor but used e-trade. At first I was surprisingly successful. After the initial success, in the summer of 2007 I found it more difficult and the profits I made each year became less and less.
I feel the loss of the uptick rule is unfair to the people who are just trying to improve their savings for a better life and for retirement through their own efforts.