April 28, 2010
Please look into the Market Manipulation this morning, Wednesday 4/28/10. Apple Computer Shares opened up and were then subjected to a massive Short Selling Bear Attack. Over 3 million shares were dumped starting at 10:01 ET. This resulted in driving Apple down from $262 to $256 per share within 3 minutes. The Hedgefunds then bought to cover and by 1:30 PM the stock was back to the previous days close just in time for the FOMC results. The small investors were largely stopped out at $260 per share. They won't be settled for three days. The Hedgefunds have picked their pockets for about $30 Million Dollars before Lunch. Please check and verify that those shares dumped were not naked shorting.
Note, your new Up-Tick Rule, when implimented, will allow an Apple investor to lose $26 per share before it even kicks in. Why did you even bother with this so called Short Selling Restriction?