May 26, 2009
Having been in the investment business since the mid 70's, I have been through several "roller coaster markets". I have watched the market cater to a more professional traders market.The uptick rule protected the "little guy" from the "big guys" driving the market to meet their needs and the elimination of the uptick rule was their best "weapon". They could now,in effect, drive prices down at almost their will. I agree the short sale provides a balance in the market, but I also believed the uptick rule also gives balance to the market.