Why hasnt the uptick rule been established yet?!? the price for Citi is ridiculouse
What would you have them do with the uptick rule with C? If the price is ridiculous, jump on it!
I think the uptick rule on C is “no more upticks.”
just pointing out the gyration of stock percentages on a daily basis have been tremendous. capital gains that have been accumulated for years literally gone in hours. Just to at least slow down the sell off.
Somebody has been listening to Cramer. But I agree the uptick rule needs to be put back in place. The SEC removed it solely to help the Hedge Funds. If I ever see that punk Cox I’m going to chuck a milkshake at his head.
Don’t waste food. Its a recession. Who knows when you might get your next meal?
I’ve been saying this all along…the uptick rule was reinstated by Cox for the sole purpose of Hedge Funds syphoning money from 401ks and retirement funds of the average person to the super rich. The extreme fluctuations are a direct result of hedge funds naked shorting and covering in huge blocks.
Louisville - You just have no clue.
Read up on the NY times article on the Fed investigation of the coordinated short selling of MS, GS, C etc.
Louisville - You simply have no clue.
Joey for what reason did Cox remove the uptick rule? It seemed to be a perfectly good market measure for decades.
And look at the timing…Oct 2007. Look at the charts and see the precipitous decline equities especially the financial sector had right after the reinstatement.
It was removed several years ago in a test program on a select set of mega cap stocks. After studying that program for several years, the SEC came of the conclusion that the uptick rule was having no serious effect on trading, and removed it for all stocks. Then a bunch of financial companies (apparently) started using coal mining equipment to move money into furnaces, and for some reason their share prices went down. See the connection?
thepinkman Wrote: ------------------------------------------------------- > Joey for what reason did Cox remove the uptick > rule? It seemed to be a perfectly good market > measure for decades. I don’t think that Cox needs a reason to get rid of the uptick rule. It’s pretty much a weird rule anyway. You can have an uptick based on 10 shares but then short a gigantic block and be in compliance with the uptick rule. A clever hedge fund thieving grandma’s IRA ought to be able to figure out how to get around it. Anyway, hedge fund problems with shorting are about borrow and naked shorting, not the uptick rule.
NakedPuts Wrote: ------------------------------------------------------- > It was removed several years ago in a test program > on a select set of mega cap stocks. After > studying that program for several years, the SEC > came of the conclusion that the uptick rule was > having no serious effect on trading, and removed > it for all stocks. Then a bunch of financial > companies (apparently) started using coal mining > equipment to move money into furnaces, and for > some reason their share prices went down. See the > connection? Well said! Edit: Ever see those drag lines on Mega Machines on Discovery channel? It’s like 200 tons/scoop or some crazy number like that.