May 4, 2009
Fisrt of all, the SEC needs to enforce the illigal activity os "naked short selling".
The SEC should also bring back the "uptick" rule that has worked for 70 years before the previous SEC abolished it. If the argument is simply that the trading rules should be fair to both the buyers and sellers, then one needs to ask:
"Do the buyers and the short sellers deserve the same treatment?"
In order to answer that question, you need to know who are the buyers and who are the "short sellers". The answer is that the most of the buyers are average investors like you and me and my neighbors. While most of the short sellers are "professional traders." Don't you think it is in fact you regulators' responsibility to protect the average investors, much more so than the "professional traders?"
Unfortunately, there are many so called "experts" on this issue are by themselves are "professional traders" or their coherts.
In sum, I am aginst the "naked short selling" and I support bringing back the "uptick rule".