December 1, 2011
I think it is a great idea to get small Investors back into the Market.
Another thing to consider, is making all trading electronic, and level the playing field.
I recently had an order in to buy a stock on the AMEX. My order was never filled, and the market Closed at 4PM. Five minutes after the Close, a trade was placed that dropped the price of the Stock by 7%, thus 'Painting the Tape' on the Closing Price, and I received none of the Fill. I assume only a Specialist would be able to do such a transaction, and pocket that kind of trade.
It is disheartening to be a small Investor, and have someone with the power to put in trades after the Close, below your Order's Bid, and below the Stocks Low of the day??
I assume this is legal ... but it seems highly unethical