May 26, 2009
How can anyone explain why financial stocks were beaten down so low in a very short time except that the shorts did not have to contend with the uptick rule. After the shorts had accomplished their goal of beating the stocks much below fair value, the stocks recovered to a more fair value. What purpose did this serve the investor of these companies except to create much uncertianty and give the general investor doubts about keeping their money in the market. Large fluctuations in stock prices may make money for hedge funds and professionals, but what does it do for the general public who have their retirement funds invested in the market but do not want the high risk created by large swings in the stock market. The long term investor has been damaged and discouraged by those who munipulate the market for the fast buck. Please reinstate the uptick rule Surely the rule was is place for a good reason in the past.