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karennma
6,386 posts
msg #53583
Ignore karennma
7/27/2007 8:49:36 PM

Re: GOOG
short-squeeze my foot!
I hope GOOG goes to $375.
roflmao!


karennma
6,386 posts
msg #53584
Ignore karennma
7/27/2007 8:52:55 PM

Then, in September, we all get to go long again!
roflmao!!


alf44
2,025 posts
msg #53585
Ignore alf44
modified
7/27/2007 9:58:31 PM

"msummer2007"...Huggies and Pampers time.

--------------------------------

Let us not forget...the SEC has rather quietly done away with the "uptick rule" !!!

Haven't heard much about this from CNBS (et al...) !!!


FYI:

The playing field HAS changed people...be advised !!!

This will almost without question affect (downside) volatility !!!


Regards,

alf44


nikoschopen
2,824 posts
msg #53586
Ignore nikoschopen
7/27/2007 10:09:25 PM

Let us not forget also that for every buyer there has to be a seller, and vice versa. Therefore, the uptick rule was a stupid idea from the beginning and it has never hindered those who were bent on shorting the stock. Plus, I don't hear anyone balk when the damn stock jumps 10% or more, so why are they bitching so much (sorry for my french) when it falls by the same amount?

alf44
2,025 posts
msg #53587
Ignore alf44
modified
7/27/2007 10:12:29 PM

...it WILL affect (downside) volatility ! imo



nikoschopen
2,824 posts
msg #53588
Ignore nikoschopen
7/27/2007 10:14:55 PM

The Uptick Rule: Nice Knowing You

In this quiet, shortened trading week, something historic will happen. As of today, July 3rd 2007 the ‘uptick’ rule will be eliminated.

If you’re new to all this, the uptick rule limits how a trader can sell a stock short. The rule only allowed short selling when the last bid wasn’t lower than the previous inside bid (Nasdaq) or for the NYSE, an uptick or zero plus tick. The intention of the rule was to prevent someone leaning into a stock and just hammering away at every single bid.

This was a rule that came about after the public uproar over the great bear market of the late 1920’s. It has been in effect since the SEC Act of 1934. This act not only brought about sweeping changes to the US financial markets, it established the SEC as the defacto guardians entrusted with policing the hobbled stock market.

A lot of good was done in the SEC Act of 1934. Pretty much everything we are now familiar with, from IPO’s, annual reports, quarterly statements, etc. all are thanks to it. But I am glad the uptick rule was thrown away.

It’s not like it was really accomplishing anything. For a long, long time now people have been getting around it. First using ‘bullets’ (or married puts) and then using single stock futures. Thanks to the ever changing landscape and the indefatigable creativity on Wall Street the uptick rule became the vermiform appendix of the financial markets.

If you want the complete lowdown, read the SEC ruling in full (pdf)


alf44
2,025 posts
msg #53589
Ignore alf44
7/27/2007 10:21:02 PM

With Due Respect...

...I'm quite familiar with the history of the "uptick rule"...AND...I stand behind my previous comments ! :)


Regards,

alf44


nikoschopen
2,824 posts
msg #53590
Ignore nikoschopen
7/27/2007 10:35:58 PM

Alf,

Whether it's downside or upside, those who are responsible for so much commotion or volatility in the market aren't retail people like you or me. They're the commercials like Morgan Stanley and Merrill Lynch, and these commercials were never bound by the same uptick law anyway as far as I know. So what difference does it make?

alf44
2,025 posts
msg #53591
Ignore alf44
modified
7/27/2007 10:55:35 PM

...again...I'll stand by what I said in my previous posts !

I'm not really interested in debating the obvious !

One only need look at the "downside volatility" of late (subsequent to the recent abolition of the "uptick rule") to see the validity of my statements !!!



Regards,

alf44



PS. The DOW 30 and the S&P 500 just had their WORST week in 5 years !!!

COINCIDENCE ???

I think NOT !!!


nikoschopen
2,824 posts
msg #53597
Ignore nikoschopen
7/28/2007 12:20:55 AM

msummer2007: If we do not see a positive market this Friday, I shutter to think what Monday will look like.

Although market participants are notorious for doling out ready-made answers qua excuses for everything, I'm afraid they're caught with their pants down this time around. Monday should be a very volatile session, and I advise everyone to liquidate their long positions at the open and buy them back at cheaper price at the close. Now, I call that a smart move! :)

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