April 24, 2009
I am an individual investor just trying to earn enough money to buy a new home. I lost 2K last year due to the practices of short selling. The government lost tax revenues from my deducting this and I could not buy a home.
It is horrible to buy a stock and immediately watch it drop. I would buy in several increments during the process of a day and these companies would immediately fall again in price due to short selling. For example this happened to me with GOOG, BWEN, RIMM, AAPL, GS and many others.
Please put back into place the original uptick rule and prosecute violators.