May 4, 2009
I believe that the SECs action to explore short sale price restrictions and circuit breaker restrictions is critical to restoring investor confidence in the markets.
ITs not just the short selling bans etc, the up-tick rule should be brought back in place and then ban the double and triple short ETF's, come on, get it together.
Short selling without UPTICK RULE (particulrly in internet envioronmnt) creates volatility. Volatility creates fear and abuses, which in turn creats liquidity crisis, which creates recession.
UPTICK RULE since 1929, brought stability. Elimination of UPTICK Rule in July 2007, (not long after) brought nothing but severe volatility and fear. Its a clear comparison between the two.
I on behalf of Millions of Americans, urge the SEC to bring back the UPTICK RULE. I trade very little (the last year and half because of this very reason) How come the uptick rule worked fine since the 30's?
Short Selling is necessary for a good market, JUST INFORCE THE RULES