OK, I'm ready to do this right, do I have your permission to use this part of of your post number 340 in a new petition? Since these are your words may I use them?
To: Market Makers (NASD) & the SEC
ATTENTION INVESTORS IT IS TIME TO SAY ENOUUGH IS ENOUGH!!! TIME TO TAKE A STAND AND FOR OUR VOICES TO BE HEARD.
If your tired of Market Maker Manipulation (MMM) of your stocks then we kindly ask you to join us in voicing your opinion on the following items.
File No. S7-24-99, short selling and naked shorting Release number 34-42037 http://www.sec.gov/rules/concept/34-42037.htm … This the most crucial comment you can make. Shorting of securities is out of control and costing the small investors massive amount of dollars by the minute. Short selling rule comments http://www.sec.gov/cgi-bin/txt-srch-sec?text=s7-24-99&mode=Simple … If the SEC removes the Uptick rule you can expect this shorting to get even more devastating. Also Naked shorting is out of control where Market forces just create stock by sitting on the Ask selling all they can. Then manipulating the market to fall so they can cover what they have sold. If they can’t they spread the bid ask to unbelievable spreads to stop the interest and thus reduce the amount of resistance to take the price of the security down.
Further this petition will respond to vote in favor of ECN & ATS as Market Makers as per this language:
6540. Requirements Applicable to Market Makers (a) No change. (b) An alternative trading system (ATS), as defined in Regulation ATS, Rule 300(a), or electronic communications network (ECN) as defined in SEC Rule 11Ac1-1(a)(8), shall be eligible to participate in the Service, provided however, that such ATS or ECN is an NASD member and otherwise meets the requirements for participation set forth in the OTC Bulletin Board Rules. Where used in the OTC Bulletin Board Rules, the term ``market maker' shall be construed to include a participating ATS or ECN. (c) No change
All submissions should refer to File No. SR-NASD-2001-44 and should be submitted by September 18, 2001. Thus this petition and its comments will be sent to:
Securities & Exchange Commission 450 Fifth Street NW Washington, DC 20549-0609 File Number SR NASD 2001-44
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