July 9, 2009
Market stability is very important to reverse the negative wealth effect and help pull the US out of recession. Watching price action in stocks recently it is obvious that short sellerls can manipulate stock prices in seconds. They are able to do this because of the freedom to short the market without up ticks. It is time for the SEC to reinstate the old up tick rule. The market has corrected and tested enough. We do not have to go anywhere near the lows of March for a re-test. There is no reason why this 70 year old rule should not be brought back. Even if the rule does not stop the market from decline it will no doubt slow it down. This will help level the playing field for the smaller investor and give a feeling of more stability to the market. PUT THE RULE BACK IN NOW!