I'll live with this rule, but it: 1. Pisses off people who think implementing the uptick rule is annoying - they still have to implement it when the 10% conditions are met. 2. Pisses off people who want a crackdown on naked short selling - there is none. 3. Pisses off Jim Cramer who wants the old uptick rule. Now 3. I enjoy because I love seeing that moron whine like a little baby when he doesn't get his way. However, all the SEC needed to do was crackdown on naked short selling and then they wouldn't have to worry about any uptick rules. How difficult is this for them to understand? What are the cons of preventing naked short selling? Anyone? Furthermore, if they would just ban naked short selling for real, then OSTK would continue to suck ass as a stock and flytiger and Patrick Byrne would have to come up with other excuses for underperformance.
Piece of cake. If you buy a stock and it goes down, this is naked short selling. If you have a company and it is in the shitter and your stock goes down, this is naked short selling. Now "How can you as a trader naked short a stock?" Why would you want to? People call you names and stuff, hurt your feelings, you should be ashamed to even think about asking or doing this immoral and unethical stuff, people post death threats and basically siphon the money off for terrorists. by naked shorting, why it is plain downright "UnAmerican".