The solution to SS is very simple.... Shares can be sold with no uptick rule.....the numbers of shares to be restricted by shares outstanding....by electronic tag....first come first served..... However there would be restrictions on share size for large institutional accounts.... Futhermore ....there should be no account minimum or maximum.... Margin should be 4:1....either overnight or intraday..... Orders must be made good ....for a minimum of one second.... Exchanges must be defragmented....and electronically supervised by a new entity...whereby employees cannot crossover to the private side for 5 years..... Done Now....further efficiencies in closing the bid ask spread.....and lower transaction costs.....100 units of any secuity should not cost more than 20 cents......Why would anyone want to pay for fat salaries...buildings...advertising....etc....when it is all better on the internet.... Then....accurate timely wiki based information ....on every security....which completely replaces the rating agencies.... Next....make the exchanges seamless.....worldwide in the currency and language of choice.... Next ....no taxes of any kind on any securities.....in the name of efficient capital....and the maximum effort to rebuild manufacturing and innovation....and wealth distribution..... Done ..................................................... Why ? The world needs to act fast and replace bankable valuations.... And would...and then some....if the above is implemented.... ................................................. The Brown/Obama clowns.....should be in Hollywood....not Washington....
I find it interesting they are saying that MM's arn't going to be exempt from the rule. Interesting times indeed -Guru
SEC puts new curbs on short-selling: http://finance.yahoo.com/news/SEC-p...9.html?x=0&sec=topStories&pos=4&asset=&ccode= "The rule puts in a so-called circuit breaker for stock prices, restricting for the rest of a trading session and the next one any short-selling of a stock that has dropped 10 percent or more. The new curbs take effect in about 60 days but stock exchanges have six months after that to implement them." So this is saying that you can't short a stock (without an uptick) if it's down 10% for the rest of that day and the next? Is this correct? -Guru
This government is ridiculous. Really insults our intelligence. They DID NOT ADDRESS THE BIGGEST PROBLEM OF ALL: NAKED SHORT SELLING, which should be outright,completely and immediately forbidden without exception. No, they just pass this little "smoke and mirrors" thing and ignore that the financial lords of the world can naked short sale stocks thus creating stocks from thin air and even using this faked stock to vote on companies meetings. I cannot vote for the democrats anymore. I can't vote for republicans either (I cannot ever vote for someone who thinks that the Iraq war was not a colossal mistake), so I don't know to whom to vote in the future. I won't be for Obama, I can tell you that. I hope that a third party gains in clout and becomes a viable option. Right now RON Paul is looking good, but only if he does not run for the republican party.
Well, as far as I can tell, It basically puts the uptick rule into affect for 2 trading sessions (2 days) after a 10% drop in stock price. So, on the 3rd day, it's back to business as usual. Am I interpreting this right? If I am then I can live with this.
There is no bigger advocate than one, Patrick Byrne. All he asked, and all he has asked Kaufman to ask for, is a hard borrow. They couldn't do it. They couldn't even do a hard borrow requirement. I don't think that is an outrageous demand, or even a request. You don't need bells and whistles. You need an enforced hard borrow. If Patrick threw his hands up and quit, summered on his yacht, frittered his life away as so many of us do, I wouldn't blame him. And truthfully, I hope he does. Because he has suffered too much in stress and indignation, things he didn't deserve. But, he's an Irish hardhead. That hardhead has a genius IQ, but it 's not as big as his heart. He'll keep swinging because he knows right from wrong. Too bad no one on the Street does.
Well the last time they expected a crash, they took out the uptick rule. I'm not too happy with this rule, how much did the uptick rule really take away from shorting? Anything at all? If not, it's just an annoying interference.