The SEC has proposed new restrictive short sale rules. They're even more restrictive than a simple tick test that we had in the past. Plus, there's no talk of exemptions for ETF's. PLEASE take a look at the rule & submit a comment at the following URL. If implemented, it will really effect trading. Your comments really do matter. The anti-shorting crowd is already commenting in full force. We need to give our input as well. http://www.sec.gov/news/press/2009/2009-185.htm Please pass the url of this message to your trading friends & associates. We had major influence when the transaction tax issue came up earlier this year. We can have the same influence here as well. Thank You.
Terrific comment here. http://www.sec.gov/comments/s7-08-09/s70809-4425.htm Please send a comment in via the url in the first post of this thread. It's our ONLY chance to influence a change before the pitchfork crowd comes after us & restricts our shorting ability.
Ironically, this may be good for day traders. I think it will INCREASE volatility. Good. I say implement it.
You might wish to read this. You won't see it in the MSM. http://www.deepcapture.com/goldman-pillages-goldman-steals-goldman-sachs/ something has to change. The next time, and it's coming, Sam can't write a check.
The downside of that is there'll only be 1 letter on that SEC url. Maybe each person using their own viewpoint in their own message would be more effective. We can not only fill that site with messages with our viewpoint to counterbalance the anti-trading anti-shorting crowd, but with each person using their own viewpoint, one of them may be the one that effects change on someone where others don't. Sometimes the way someone says something set off the light bulb where others saying the same thing in a different way has no effect. With that said, if you want to try a collective letter, great. Maybe some folks would sign one of those like with the transaction tax letter which was VERY EFFECTIVE.