August 19, 2009
I like the proposed uptick rule. However, you should also address naked short selling. Although illegal, there is evidence this still happens from foreign countries such as Canada. In addition, you should eliminate the "high frequency trading" where larger firms can front-run average investors. Finally, you should make all bids and offers good for 1 second. The markets are now manipulated and controlled by large firms and their computers. While the uptick rule might be important, these three items I listed will have as great or greater impact on making the markets fair to all.
Thank you,
Jim Folliard