June 1, 2009
I believe restoring the Short Sale Uptick Rule that had been in effect from the
1930's until removed in 2007 would be the fastest way to restore confidence
to the Stock Market and our Economy. I have been an "Investor" in Stocks and
Bonds since the 1960's and am now trying to remove myself from my investments in securities as Wall Street has became nothing but a gambling
pit over the past five or six years. I do not believe our country will be able to
attract new Capital for start-up companies and continue to grow if Wall Street
does not return to a safe investment for the small individual investor. Wall Street must make changes to get back to the greatest investment opportunity again.
We cannot survive as a Trading House. The SEC can jump start this change by
restoring the original uptick rule. Please do not try to solve this problem by some new circuit breaker or other plan submitted by Traders. The original short sale uptick rule worked and will work again. I have would like to continue investing in stocks bonds but not under our current rules that cater only to the day traders. i do not want to remove the ability to short a stock or company that looks like it cannot be a successful company in the future. Anyone can short a stock under the uptick rule but it serves no purpose to this Country or Companies that provide jobs and taxes if the large Hedge Funds decide they want to put them out of business for the only reason to make a few quick dollars. WE MUST STOP THIS PRACTICE. Please restore the Short Sale Up Tick rule immediately.
Clint Hays