CAVU Resources Inc (CAVR)

[JLPTNG]

Willy, the rule was amended in 2010 with rule 201 after many debated the removal of the uptick rule in 2007 - rule 201 basically is a derivative of this up-tick rule:

http://www.sec.gov/news/press/2010/2010-26.htm

Clearly these shorts were manipulating CAVR big time today with the 100 share buys - I believe the last 100 shares was the short MM waiting to sell short - may have run into some issues with less than 15 mins left in the day and may have been restricted to sell short again.



SEC Approves Short Selling Restrictions


Rule 201 includes the following features:

Short Sale-Related Circuit Breaker: The circuit breaker would be triggered for a security any day in which the price declines by 10 percent or more from the prior day's closing price.

Duration of Price Test Restriction: Once the circuit breaker has been triggered, the alternative uptick rule would apply to short sale orders in that security for the remainder of the day as well as the following day.

Securities Covered by Price Test Restriction: The rule generally applies to all equity securities that are listed on a national securities exchange, whether traded on an exchange or in the over-the-counter market.

Implementation: The rule requires trading centers to establish, maintain, and enforce written policies and procedures that are reasonably designed to prevent the execution or display of a prohibited short sale.