CM in MA

No Uptick Rule: A Convenient Scapegoat?

Herb, I'd recommend folks take a look at a chart of the VIX from mid-1998 to early 2002. Now that was volatility, and the uptick rule was alive and well. There is no correlation between the existence of the uptick rule and low volatility. Likewise, there will no doubt be little or no correlation to the lack of an uptick rule and high volatility. I have nothing against short selling (or short sellers). The only thing that bothers me is that short sellers can hide their activity due to the delayed reporting of short positions. Shorts should have the courage of their convictions and operate in full view. Mark the ticket and ticker as a short sale so that the market has full, real-time knowledge of short interest.