May 4, 2009
I would like to see the uptick rule restored to its pre 2007 rules. The removal has been a complete disaster that has allowed market insiders to print money while destroying companies that many Americans had counted on. As a small investor the market has become a far more dangerous place due to the removal of this rule. The insane fluctuations are impossible to manage without watching stock 100% of the time. That greatly discourages individuals long term investment and encourages the professional short term trading that has been dominating the market. What was different about this down cycle than others that led to the wild fluctuations and piling on the downside? The answer seems obvious to even a casual observer, bring back the 70 year old uptick rule and stop messing around with something that has worked well for so long. Even this public comment period amounts to another silly delay, the original rule should have been restored some time ago. There is no reason to play academic games with the largest market in the history of the world. People in the SEC need to admit they were wrong and restore the rule immediately.