After nearly a year of debate, the SEC votes 3-2 to curb short selling for securities that drop...


After nearly a year of debate, the SEC votes 3-2 to curb short selling for securities that drop 10% in a single day. Short sales would then face a test and only be allowed if the price is above the then-current national best bid, for that day and the next.

Comments (7)
  • fed_alchemy
    , contributor
    Comments (245) | Send Message
     
    just in time...like the trading curbs crash of 1987
    24 Feb 2010, 11:47 AM Reply Like
  • fjg2395
    , contributor
    Comments (8) | Send Message
     
    What great news!!! (sic) Now if AAPL drops 2 bucks you cant short it--what will the geniuses come up with next...
    24 Feb 2010, 11:55 AM Reply Like
  • AGAZ
    , contributor
    Comments (17) | Send Message
     
    I think you mean $20, in one day.
    24 Feb 2010, 12:02 PM Reply Like
  • Put13
    , contributor
    Comments (2) | Send Message
     
    10% not 1% man. It is a stupid rule though...
    24 Feb 2010, 12:11 PM Reply Like
  • PSW
    , contributor
    Comments (31) | Send Message
     
    prices only go up now!
    24 Feb 2010, 11:56 AM Reply Like
  • paultheprofit
    , contributor
    Comments (68) | Send Message
     
    fall 08..bank stocks...HISTORY REPEATS...pretty much guarantees a market dump here shortly...
    24 Feb 2010, 12:02 PM Reply Like
  • dean_s
    , contributor
    Comment (1) | Send Message
     
    Anyone know if there will be a Bid test for the Opening Cross on the day following a 10% decline?

     

    Before the original bid test was removed in 2007, NASDAQ did not have a bid test for their opening cross. Listed stocks, of course, could only be shorted on the Open at a price above the previous day's close.
    24 Feb 2010, 01:19 PM Reply Like
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