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Thursday, July 17, 2014 5:14:44 PM
‘Short-Sale Rule’ was the regulation that passed in 1938 to prevent selling shares short into a declining market; at the time market mechanisms and liquidity couldn't be guaranteed to prevent panic share declines or outright manipulation. However, this regulation was rescinded in July 2007 by decree of the SEC; as a result short sales can occur (where eligible) on any price tick in the market, whether up or down.
Coincidentally, the US bear market of 2007–2009 was declared in June 2008 when the Dow Jones Industrial Average (DJIA) had fallen 20% from its October 11, 2007 high. There is a great article from Michael Milken explaining this tool and the negative impact it had on the economy and on a small company like Dendreon, which everyone who invest in this market should read.
Basically, you either become one of them and take advantage of swings by trading, and join in trashing the company so that shorts can give a great entry point, or you don’t worry and trust what you believe in, and what will help humanity become better. Today’s tragedy of 295 victims reminds me to continue the path of good and not greed. Just look at how the market reacted and how this information is being used.
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