don't count your chickens before they hatch. after the next market decline short selling will be banned completely.
The way the SEC press release reads, the removal of tick test will be effective immediately upon release in the Federal Register: The Commission voted to adopt amendments to Rule 10a-1 (17 CFR 240.10a-1) and Regulation SHO (17 CFR 242.200 et seq.) that will remove Rule 10a-1 as well as any short sale price test of any self-regulatory organization (SRO). In addition, the amendments will prohibit any SRO from having a price test. The amendments will also include a technical amendment to Rule 200(g) of Regulation SHO that will remove the "short exempt" marking requirement of that rule. The amendments will be effective immediately upon publication of the release in the Federal Register.
WOW! I missed that (see Section 3). Here is the press release: http://www.sec.gov/news/press/2007/2007-114.htm