SEC to temporarily ban short-selling: report
By Robert Schroeder
Last update: 7:53 p.m. EDT Sept. 18, 2008Comments: 260
WASHINGTON (MarketWatch) -- The U.S. Securities and Exchange Commission intends to temporarily ban short-selling, The Wall Street Journal reported Thursday night. It's unclear if the commission has approved the move, the Journal reported. SEC Chairman Christopher Cox, Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson were briefing congressional leaders Thursday night. The U.S. move would follow a similar action by U.K. regulators on Thursday.
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7 comments:
WTF? This is America? What the hell is going on here?!
This is MARKET MANIPULATION.
You don't start a football game, and at halftime, when the home team is down, change the rules...
This is insanity. I'm claiming every lot of anything I ever traded as a loss on my tax return this year if they pull this shit. Hell, I'm claiming last years taxes paid as a personal loss. Fvck that.
This will actually tank the market you know.
And make gold go to the roof
If big money can't short where will they place the money?
Keep ca$h - no that will be/is being devaluated by FED
Buy other currencies - no we have a devaluation contest going on perhaps Swiss Frank will do ok
Go long stock - no we are in recession
What is left Food and commodities
It still just irks me to no end that these arrogant sob's can change the game to suit their needs.
I should be able to cash my 140 SKF lot in for the day's high of 154, since they decided to try and screw anyone trading with half a brain.
Either way, like Joe said, gonna make money of these idiots and give as little back as possible.
It really seems like the wrong people are gettÃng punished here
This is one of the reasons why I bailed on my miners guys. You cant go by fundamentals anymore...it is a travesty. I bought back in today thinking that technically gold had reversed on the MACD and then BAM!!! No shorting and some magically gov agency created to solve all the worlds problems. It is such a freaking joke. Welcome to America..home of blatant manipulation to save the bankers, screw the people in the right, and steal from the little guy. Makes me want to puke.
So... should I sell my skf position now before it gets worse, or do you think it will return to the 130 area soon?
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