Why is everyone stressing? On Oct. 22, the SEC put out the elimination of the uptick rule for 60 day public comment (in the most liquid stocks, soon to lead to all stocks). This is basically just a formality prior to instituting the new ruling. William Donaldson has clearly said that the short-sale rules need to be revisited and is outdated. To me, it's clear as day that they are going to eliminate the uptick rule in short order. I believe that this SEC 'interpretation letter' was ill-timed and probably should have happened in conjunction with the elimination of the uptick rule. Nonetheless, the uptick rule will most likely be eliminated as of Jan. 1 (or thereabouts). I suggest traders take the holidays off and be thankful that they don't have to pay for bullets anymore. Welcome all comments...Neal.
If this is true I will do ten salamis, no wait, I will sacrifice five chickens in honor of Donaldson. Please let it be true... nitro
Dude if you are bullshitting ET is going to lynch you, but if your not.. So mot it be.. You are the man..
That was proposed several weeks ago. The only surprise was that the bullets where eliminated so soon. However the top 300 stocks will not necessarily cover the stocks you trade or will help you much if you trade news stocks that are not on the list.
So you will be able to hit bids for free along with everyone else and his uncle, so what? That just means more noise and much less choppy moves upward for the long side - hardly anything to cheer about.