Are you sick of the SEC in all their "infinite" wisdom ruining our markets, me too. This new movement to regulate short selling STINKS of politics and undoubtedly can hurt our markets, our profession and for many of us our livelihood. This link for this article was recently posted on RT
Remember the day trading rule and the $25,000 rule that DEFINITLEY hurt us, it started from a few murmurs like this. I dont know about you, but i wish i would have done more back then to try and de-rail that as well...maybe to no avail but at least i would feel better.
I started this thread to discuss what we can do in terms of writing emails, gathering siganture, phone calls, writing the SEC, etc.... ET has what 15,000 members now. its time to use that clout to the benefit of trading rather than whine about somebodys dumb poll...
I am not wasting any time or space to discuss why this is bad for trading, as i assume everyone on here will be in agreement. what is not coincidental is this is politcally motivated by, as far as i can tell know fannie and freddie making alot of the stink, and these are non-capitalist enteties trying to impose anti-capitlist measures on our free markets. we cant let anymore anti-capitalism seep inot our market which we all know must remain as free and pure as possible.
The SEC is reviewing proposals NEXT WEEK. I am just beginning my research now so i dont even know what politicians are pressing this issue, but we need to find out and threaten to BOOT them out of office, the only thing that will motivate them and get their attention. BOTTOM LINE is we need to not only talk about it but also DO SOMETHING ABOUT IT...if you are someone who will take the time to whine and cry on ET about the SEC but wont take the same time to write their rep or call their congressman, this is not the thread for you. I cant stand people that bitch about an issue and then dont practice their democratic gift to do something.
AND the other issue is there is talk they want to EXPAND the SEC? i cringe at the thought. the basic nature of a regulator is to regulate so long as we have the SEC they will try and find ways to tinker with the market to justify no only their existence but also their paycheck. and now they want more of these bozos. let them investigate fraud and corrupt CEO's and books all tehy want BUT STAY OUT OF OUR MARKETS!!!!!!
ding. ding. ding. (thats the fight bell siganling the round is over)