Subject: File No. S7-26-08
From: Andrew Lwin
November 12, 2008
SEC should ban short-selling and use up-tick rules. Short-selling is good for paper trading, not good for electronic trading. It is very easy to do stock market up, just ban short selling and use up-tick rule. We don't need interest rate cut or nothing else.
- DJI down below 8000 point very short time.
- Bankrupt Companies because share values drop so quickly.
- Stock market too volatile, upset the market.
- Investors (who invest their retirement money) scared of stock market for good.
- Stock market will collapse very soon if all real investors (who invest their retirement money, not wallstreet trader) take their money out and they never save/invest their retirement money. I will never save retirement money because I don't want to lose my money.
- People see stock market is not for investment, for gambling. They think SEC (government) encourages gamblers, not investors. They think stock market is the legal internet casino.