Crammer: Bear Raid Siren thx SECMaybe you guys knew all about this law, but I for one didn't know until just now.
Crammer CNBC just told us that on July 6, 07 the SEC changed the rules. Just recounting what was said and I may get some points wrong. The SEC took away the "Up Tick Rule" that was implemented in the early 30's after the 1929 crash to stop a short seller from driving a stocks price down. The law was that for every short sale hitting the bid the next trade had to come from a buyer hitting the ask before a short could sell again. Last July the SEC evoked rule 201, I think he said it was, that took the 'Up tick rule' out there by allowing short sellers to punish the bid without mercy. Thank you SEC for handing the keys to the vault to the Hedge funds and their Pirate traders and robbing Billions of hard earn fiat currency dollars from us hard working individuals.
Crammer says to join him in petitioning congress to force the SEC to amend the July 6th rule change. The playing field is no longer equal the bears have the balance of power.
That explains much of the past 8 months.
thx for the education Crammer
BOOYAHHH
I'll vote to amend this rule
radar
I'm likely to get flack for spamming this around but i don't care
I feel its too important.
I'll also likely get bashed branded tar and feathered and drawn and quartered by the shorting crowd but I also don't care.
jimmy can crack corn and I don't care.
WAKE UP FOLKS AND EXERCISE YOUR RIGHTS