oldlures1

Ugly

I said it once, and I 'll say it again, I believe that the following steps would eliminate half (at least!) of the volitility in the market today:
1) reinstate the uptick rule
(it worked as intended since 1929, but some well-lobbied SEC knuckleheads erased it last year).
2) aggressively enforce the prohibition of "naked" short selling
(you should never be allowed to short stocks that don't exist - can you say "fraud"?)
3) disallow the purchase of CDS/credit default swaps by investors who do NOT have an insurable interest in the company
(I can't purchase hazard insurance on your home; that's illegal, so why should it be okay to buy default insurance in a company of which I have NO insurance interest? It shouldn't!)

If the current market was a bucking bronco, hedge funds would be the rider, and they'd be well past 8-second bell....with no grips....holding a trophy in one hand and a big bag-o-money in the other....just hoping this "ride" will go on forever!