Questions about the uptick rule

[zdreg]

Quote from Ivanovich:

I call a "spade" a "spade".

And wouldn't it be simple if there actually was a "trading" button.

By the way, how's that banana republic call going that you made 3 or 4 years ago?

how else would you describe economic policies of the US?

it was a damn good call. thx for publicizing it.

 

[MohdSalleh]

i hope they reinstate it

 

[Tide31]

Quote from Eliot Hosewater:

The idiots are talking about re implementing the uptick rule for shorting, like it's going to fix all the problems with the stock market. I have two questions about it.

1. Does this affect someone who is long and just wants to sell? Is it known at the time of the sale if it is a short sale?

2. If you want to sell short, why can you not just put in a buy order for a tiny amount to get an uptick? You put in a sell order then a buy order that would trigger the sell.

EH, you may not realize that you send orders down as short, most execution platforms know what you have in your account and mark it for you.

As for #2, you can have a buy in and a sell in at least one increment higher ( .01 today). You cannot have a buy and a sell in at any one time at the same price point. It breaks several rules, especially if you trade with yourself. If this happens the trade must be broken, and you may be subject to penalties for 'painting the tape' as we used to call it. You can do many things with yourself, but you cannot trade with yourself. Doesn't make sense anyway. If you want to get a short off, you would have to 'illegally' hit a bid below the inside bid to get a tick then hit the inside bid, is the only way to create a tick. What your saying just creates a zero-plus tick, or one that is already a plus tick if its the offer??

 

[ChkitOut]

Quote from MohdSalleh:

i hope they reinstate it

why?

 

[dinoman]

It doesn't matter! It is just the tool bags in Washington trying to grasp straws. They haven't a clue and want to blame the up-tick rule being suspended.

IT DOES'NT FREAKING MATTER!

Reinstate all you want , but reality will always rule the markets!

 

[ChkitOut]

Quote from dinoman:

It doesn't matter it is just tool bags in Washington try to grasp straws.

Reinstate all you want , but reality will always rule the markets!

Amen! That pretty much sums it all up.

 

[tradersboredom]

and if the regulators were smart enough they wouldn't allow margins on short positions.

the fact that you even have short leverage ETF really says how fucked up or paid off the market regulators are in SEC and CTA

Quote from Eliot Hosewater:

The idiots are talking about re implementing the uptick rule for shorting, like it's going to fix all the problems with the stock market. I have two questions about it.

1. Does this affect someone who is long and just wants to sell? Is it known at the time of the sale if it is a short sale?

2. If you want to sell short, why can you not just put in a buy order for a tiny amount to get an uptick? You put in a sell order then a buy order that would trigger the sell.

 

[tradersboredom]

it'll be really tough making money intraday shorting NYSE stocks.

no more intraday hedging is out the door.

back old long momentum style trading.

Quote from ChkitOut:

Amen! That pretty much sums it all up.

 

[Ivanovich]

Quote from zdreg:

how else would you describe economic policies of the US?

it was a damn good call. thx for publicizing it.

Damn good call except for the fact that your whole argument was in the forex section and predicated on the dollar collapsing until it was a "banana republic" currency.

*buzzer* oh, sorry. Tell him what he gets, Johnny!

How's your canadian dollar through all this?