Is it actually illegal to short? Or is it just proposed? Confused on if it is a proposal or actual regulation.
http://biz.yahoo.com/cnnm/080919/091908_sec_short_selling.html "The U.S. Securities and Exchange Commission took what it called "emergency action" on Friday and temporarily banned investors from short-selling 799 financial companies. The temporary ban, aimed at helping restore falling stock prices that have shattered confidence in the financial markets, takes effect immediately."
What fucking justification? They're literally throwing out the rules that's been around for over 100 years!
does anyone know what the settlement price of the SEPT 08 ES future was that closed 9.30am EST today?
I think the shorts are right about the Financial Institutions Balance Sheets. I do not think they should be allowed to destroy or freeze up or whatever you want to call the whole financial system. Time is needed to find a solution to this problem and killing off 75% of the financial Inst is not the answer even though they may deserve it....