July 7, 2009
Recent events have convinced me that short selling has seriously damaged the individual investor. Stocks/options are traded by hedge funds and other institutions based on proprietary computer programs which often respond to data in a similar fashion,creating a cascade effect.
Naked short selling and unrestrained short sales, typically only benefit traders and hedge funds. Leaving the owners of 401K's and IRA's at a great disadvantage.
Please reinstate the "Uptick Rule" and ban "Naked Short Sales"
Thank you for the opportunity to comment
Steve Davis