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It is far better to remain silent and be thought a fool rather than speak
out and remove all doubt.
None the less, you have opted to speak out. So let me put short
shift to your hyperbole.
The SEC is halting NAKED short selling, not short selling. Short
selling is a useful and natural feedback mechanism for markets. It is
even more so when enforced in conjuction with the uptick rule.
Naked shorting OTH is solely for speculation and not for hedging of
investment positions. The societal purpose of markets is for
investors. Speculators and traders have their place in the market
to help provide liquidity. However, naked shorting does not provide any
useful or constructive function to markets and will not be missed as it
was not missed for the 150+ years it didn't exist in the
markets.
Just as margin requirements are a valid and useful market regulator, so
are balancing tools such as prohibition of naked shorting.
Boater805
At 05:55 PM 9/18/2008, you wrote:
SEC to halt short selling
What would happen if it were:
SEC to halt Long Buying
What's the difference ?
It is a totally biased action on their
part.
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