May 25, 2010
I was listening to Jim Craner tonight and he had Sen Ted Kaufman on air and they were discussing high frequency trading and the flash crash on May 6. They commented that the SEC had received only 100 comments about changes to SEC policy and regulation. So, here are my comments. As an individual investor I feel I am at the mercy of fund managers that have access to computerized tradeing that give them an enmormous advantage over the individual trader. The market needs more regulation to prevent big money funds like hedge funds from causing large market swings. Naked shorts have to be eliminated. The up tick rule should be reinstated. Stops on large market moves need to be instituted including ETFs. Hedge funds should operated under the same rules as institutional funds.
The SEC should be protecting the little guy...me.