May 4, 2009
I strongly support reinstatement of the uptick rule. The 2007 abolition of the rule has allowed self-centered traders to wreck havoc on both individual investors and the corporations in which they invest. Please have the back-bone to say "NO" to the special interest traders whose short selling drives the prices of weakened companies so low as to preclude the companies from being able to raise capital without extreme dilution. These "shorts" then use the fear of dilution or bankruptcy to drive the stock prices even lower, ultimately to the ruin of individual investors, as well as the companies and their employees.
PLEASE COME OUT IN FAVOR OF THE INDIVIDUAL INVESTOR. The uptick rule worked well for many, many years. It is needed more than ever today, where program trading and extreme volatility disfavor the small investor.