February 20, 2010
Comments Attached to Type C letter to the SEC.
I stand behind the suggestions, conclusions and objections raised by Jim Cramer and company. The proposed rules by the SEC as to a national bid price and circuit breaker as well as exemptions are unnecessarily complex and unworkable on a practical basis. It is best to stick with a simple and enforceable rule. Inserting a simple code in computerized trading platforms by different companies and exchanges to implement an Uptick rule is "doable."
I also feel as a long term investor "victimized" by short selling especially "naked short selling." This kind of activity is markedly detrimental and damaging to the formation of healthy equity markets and has changed perceptions and attitudes into a "trading mindset" zeroed into short term gains.