August 18, 2009
Dear SEC,
Thanks for helping ensure that we have transparent and free pubic markets.
It is in that vein that I am sending this note. Please re-instiate the uptick rule or your suggested last trade price proposal. Circuit breakers are my last choice of action but the public needs to be protected from sophisticated naked short selling.
As a public trader I do not have sophisticated high speed trading systems to compete with those few but powerful naked short selling firms that do.
I believe beefing up short selling rules would be healthy for the overall markets and inspire confidence in traders and investors. That in turn would increase real volume and open interest.
Thanks for listening
Bart Schnell