RE:RE:CRWD SSR aka Short Sale Restricted?Yasch22 wrote: The SEC said this about SSR (referred to as the “alternative uptick rule):
"This rule is designed to restrict short selling from further driving down the price of a stock that has dropped more than 10 percent in one day compared to the closing price on the previous day”
They say shorting is good for the stock market and economy in general so why not let it continue and we can all reach Shangri-la much quicker? Remember reading the Wealthy Barber who said , and I'm paraphrasing, that there's only so much money invested and at the end of the day that total doesn't vary much, it just changes hands.
I wonder who the rule really benefits? If hedgers were smart they'd do 9% a day. However the SEC would probably change that too. Irony with this rule is the SEC admitting short selling is dangerous but not if under 10% daily. What a joke, just get rid of it altogether...lol