July 1, 2009
I have watched in the pass numerious stock being short sold that brought the price down to the point of making the stock worthless. Some good examples are CTIC, SQNM, BEAT, and the list goes on. We need the uptick rule reinstated and we also need the market to stop trading on a % of freefall for the rest of the day. Mega short selling is happening all the time and when the Hedge fund can go in at 4AM and bring the price down by another 1.00 on a trade of 1000 shares is crazy. I have seen short selling bring the stock down to 7.50 then when the market opens at 8AM for traders the stock was bought down on 1100 shares at 4AM. An example is BAC. We need to stop all trading except during the hours of 8AM to 8PM and the uptick rule needs to be put back into place so the billion dollar hedge funds stop stealing our childrens future college funds and our retirement funds. It is time to do the everyday honest hard working citizen this favor and stop this illegal activity that is happening on a huge scale. Please help us make this market fair to all and not controlled by the rich by way of manipulation. Thank you for this time......