NYSE:EEE - Post Discussion
Post by
no1coalking on Aug 14, 2008 11:10am
Stop Market Manipulation ,Now !
THE SEC & Their Problem Public Demands They Stop Market Manipulation, NOW !And an important look at SEC short-selling rules (or lack thereof).
https://www.internetnews.com/bus-news/article.php/3765246/Technical+Analysis+Stocks+Hang+On.htm
August 13, 2008
By Paul Shread:
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Finally, with the SEC temporary ban on naked short-selling now expired, we'll offer anecdotal evidence to suggest that the SEC may want to reinstate permanent controls on short-selling: From July 2007, when the 70-year-old uptick rule was rescinded, until mid-July, when the naked short-selling ban was announced, the market had more 90% volume and point days (when the vast majority of volume and points gained or lost move in the direction of the trend) than anytime in nearly 60 years, according to Lowry Research — and those kind of days usually only occur at major market bottoms. The last 90% day was to the downside on June 26. Since the July 15 SEC announcement, there have been no 90% days.
Coincidence? We can't say for sure, but the high number of 90% days that have occurred in the last year suggests that short-selling controls may have contributed more to market stability than the SEC realized.
Paul Shread is a Chartered Market Technician (CMT) and member of the Market Technicians Association.
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