uptick rule - help

sorry to ask about this, seems I don´t get something really easy how does this uptick rule work? I was checking investopedia.com and wikipedia.com and still not sure… seems like, if I am shorting a stock whose last price occurred at 20 usd, I can only short it at a price above 20 usd, right? in investopedia, they also say: "By entering a short sale order with a price above the current bid, a short seller ensures that his or her order is filled on an uptick. " so if bid-ask is 20-21 (or whatever), if I am trying to sell it above 20 it will only get executed if market goes up = market bid goes above 20 = uptick? can you put more examples, or correct whatever is wrong above? thx a lot

You are right.

thx joey i was watching the cnbc and there are many people talking about this, and the possibility of having this rule again. what do you think?

It’s a good idea. It was removed, of course, at the height of the market. The uptick rule helps by blocking big money from rapidly driving down the price of a stock. The short ban on “financials” has removed the need for the uptick rule but it would still be helpful around the rest of the market.

Chuckrox can just bite me. These rules all suck

I could use some extra fingernails, mine have been pretty short since last Monday.