Many investors have been whipsawed by the market's sharp downturn, but billionaire investor Leon Cooperman thinks reinstating an old trading rule could help protect them: The uptick rule.
Cooperman said Sunday night that, by bringing back the old rule, market moves such as the ones seen last week, would be less volatile. He added that bringing back the uptick rule would be even more effective at stabilizing the market than lower rates from the Federal Reserve at this point. Cooperman feels so passionate about this issue he sent a letter to the Securities Exchange Commission, he said.
nonsense
U better sell now...
Not a short seller, but not in favor of the uptick rule. It artificially props up a stock. Let market forces play out.
That makes way too much sense and thus will never be done.
Amen amen amen. High speed quants cause ridiculous air pocket in pricing that have ABSOLUTELY NOTHING TO DO with underlying economics of securities. We have to end this madness. Leon is one of many calling for this change and they are all spot on.
SEC = short sellers enrichment commission
That would push the market EVEN higher to levels that are MORE irrationally exhuberant. Leave the law of supply and demand alone.
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Source: MarketWatch - 🏆 3. / 97 Read more »