July 28, 2009
Mrs. Shapiro and friends: What do you mean by saying that the Uptick Rule was for a one cent uptick before shorting, since its inception? Seems as if a tick was for one eighth......12 1/2 cents.? One cent would not make one whit of a difference. Why is the talk being published like this to the barely informed? Let's get on with this, folks. Whats up? I am a former broker with Shearson....remember them? Hedgies were considered illegal, let alone non-existent, and now they are pressuring you and you are capitulating.
Did you not read the comments in the comment period? I went through 90 percent of them......Seems like you should get on with reinstating the rule, and not for one cent increment!!! How stupid ! Everyone I have ever known has seen their accounts thrashed and gutted solely due to the rescinding of the rule, and no doubt will never recover. This is pure insanity.
Pamela R. Langrall