Check it out yourself... http://cnnfn.cnn.com/2001/09/24/news/wires/shortsell_re/ leave it to the government. As if the Pattern Day Trader ruling wasn't bad enough! ~EC
El, You might have missed it but we discussed this at length in the thread "Democrats want to stop Short-selling". And, yes, it's beyond amazing that they are so anxious to find a scapegoat they would blame shorting.
Well I must have missed that thread too. I stopped by the CNNfn site and checked out the article...I can't believe that this dipsh*t congressman that nobody ever heard of, could come up with such a lame brained reason for outlawing short selling...like what, somebody got some "insider information" and shorted the stocks that were directly or otherwise connected to the WTC blast. WHere's Ivan Boesky when you need him? I have heard reports via the media about suspected shorting and put options and all that...it may have happened, hell I don't know. If a connection can actually be proved, then it isn't shorting that's to blame...it is the god da*n terrorists, bankers, and other financial types, etc., who traded on this information. I'll tell you, if there is evidence...real evidence...garnered from good police and detective work, then these people should be prosecuted and later shot if found guilty. The idea that someone (other than a criminal) would actually try to profit from the September 11 tragedy just turns my stomach. But I'm really bothered by the idea that some third rate political hack would try to get press from the Trade Center blast! It is not short selling when the market reopened on Monday that bothers me. It is the profiting **before the fact** that just ticks me off. Jeez I'm angry! And that congressman who is trying to boost his own career off dead bodies and fallen buildings isn't much better. Really steamed, Jim
Guys, Im reading this and participating from like 5000 miles away and-well, to be honest- WHAT IS HAPPENING TO AMERICA? Land of the free and home of the brave? The symbol of democracy and peace and prosperity? With the land that gives an oppotrunity to everyone smart and brave enough to give it a shot? I mean, is there a place where we could all raise our voices and do something about it? Trading and the markets have been there for a very long time now and have had their own way of developing and by ruling this or that way, things are only going to get messed up! New SEC rule, now no shorting... What are we going to do? I mean, if it really IS true, we may all as well lock our PC's in the closet and go fishing! It really pis*** me off when I see politics interfering with our lives to this extent. OK, as Airspeed said (respect, my friend!) if someone really did do that with the happenings from 11. Sept. (shorting nas) he should be hung from Empire S.B.!!! My 2c Alex_The_Croatian_Fisher ----------------------------------------------------------- Love and peace my friends!
I was under the impression that the markets could not operate orderly at all without the ability of specialists, market makers, and short sellers to go short. What in the world is this politician thinking?
I mean it's bad enough to suffer a blow like the WTC. Our problem is we have way too many lawyers and politicians are mainly lawyers could not cut it in the private sector. I am not too bullish on America and I have been here for 24 years. It's my adopted home, and I can say nothing but good for the average person in the US. Their generosity and acceptance of immigrants made this place a very pleasant home in the past. I am now very dissappointed and mainly blame our politicians and foreign and domestic interest groups in Washington for most of the problems. Globalization does not work !!! It's slowly killing our manufacturing and job creating abilities. Starting a new business and actually doing payroll is impossible with the amount of red tape and cost. We are now a nation of whiners, our schools are crap our retirement (social safety net is a joke - I bet we will spent my social security in 15 years) Look guys - you can give me some crap about "bad mouthing" the US - but I am a US citizen. We created Osama bin Ladin, Imean the CIA did. Every enemy and foe of the US - was our foreign policy failure and our creation. I think we should ban shorting and ban visitors from the Middle East as well, wait why not have a "quota" for every adult to do shopping at WallMart ? Oh don't ask me why I stay - beacuse it's personal and I may not. and please don't sue me either.....
I, Like Andrasnm, came from Eastern Europe and want everybody to realize that there is no difference between Communist Party Member and politician in Washington!! Not a bit. Exactly the same motivations for whatever they do " for us".
I agree with you guys from Eastern Europe. I was born in America and have lived here a long time..........I'am also a teacher......The schools are VERY bad and I'am not teaching in the inner city either. I remember a teacher showed me poll of all kids graduating...It asked if they like America and thought it was a good place and only 33% thought it was a good country. I blame this on the schools because if you listen to these teachers...they always talk bad about the country..... I love America but If you ask me I think America is rotting from within...... Anyways it should be a right to short any stock at any time....
Because we're traders we must be a disciplined bunch, hopefully disciplined enough to stay on topic, eh? There's plenty of chat boards, bulletin boards, news groups etc. where you can have political discussions to your heart's content. Thanks.
Magna, I couldn't agree more!!! The only reason I posted my original Q was because I am really a newbie and wanted to know how markets are/will be reacting to this awfull situation... just wanted some TRADING oppinions. Got a lot of political wiews Alex