May 5, 2009
The Uptick Rule must be reimposed in order for the retail investor to stay in the market. The SEC failed to consider wild shorting of markets of 2008 that at best was manipulated when it abolished the Uptick Rule. The SEC study abolishing the Uptick Rule was based upon a flawed market period.
The previous Uptick Rule prevented naked speculation in the market for those who owned no underlying stocks they bet against.
I request the Uptick Rule as has existed from the Great Depression forward be reinstated. If the Uptick Rule is not reimposed the market will lose retail customers and become the market of manipulators and speculators.