ban on ALL short sales

[grapejelly]

http://online.wsj.com/article/SB1222...s_markets_main

Australia has a really bright idea here.

The Securities and Exchange Commission and the U.K.'s Financial Services Authority clamped down on the practice, which they blamed for the declines of financial stocks, late last week.
Sunday, Australia banned placing short sales on any stock, taking it further than its decision Friday to tighten such rules. Taiwan will ban short selling of 150 of the market's heavyweights when they trade below the previous session's closing levels for the two weeks starting Monday, the Financial Supervisory Commission said.

[Jim Nickerson]

Re: ban on ALL short sales

This entire event of banning short sales is undoubtedly the screwiest action I have yet seen happen.

It says to me that the markets, you pick which ones, are not at all realistic. It seems insane that anyone would be playing in them at the moment, though I am exposed 25% to this madness, so I'm at least 25% insane.

[grapejelly]

Re: ban on ALL short sales

if they only banned stocks falling, then stocks would only go up and problem solved. Why are they so stoopid that they don't understand this?

Let's call it "Rising Equity Security Collateral REscue dnd Wonderfulness Act of 2008", or just The ReSCREW Act for short.

[jimmygu3]

Re: ban on ALL short sales

if they only banned stocks falling, then stocks would only go up and problem solved. Why are they so stoopid that they don't understand this?

Let's call it "Rising Equity Security Collateral REscue dnd Wonderfulness Act of 2008", or just The ReSCREW Act for short.

Ha! Good one, GJ!

Maybe the treasury could just buy SPDRs to create an eternal 10% annual return in the S&P. That would quell the uncertainty. :rolleyes:

[tombat1913]

Re: ban on ALL short sales

Looks like I'm going to become much more sane today Jim, as I'm going to have to bail on all of my short positions for fear of the fascists. Sad day in America.

Where to run where to hide :confused:

[Jim Nickerson]

Re: ban on ALL short sales

Looks like I'm going to become much more sane today Jim, as I'm going to have to bail on all of my short positions for fear of the fascists. Sad day in America.

Where to run where to hide :confused:

Despite whatever is wrong with cash, it is not totally bad. I like to trade, and I like to be correct and make money, but for the 10th time, my opinion is this is a dangerous market and I don't think ANYONE really knows what happens next.

Edit: I've written several places, my opinion is that the recent equity indices' lows are going to be retested, despite that opinion, I have not reentered short positions and I don't intend to do so. So my money is not where my mouth is.

[tombat1913]

Re: ban on ALL short sales

Despite whatever is wrong with cash, it is not totally bad. I like to trade, and I like to be correct and make money, but for the 10th time, my opinion is this is a dangerous market and I don't think ANYONE really knows what happens next.

Edit: I've written several places, my opinion is that the recent equity indices' lows are going to be retested, despite that opinion, I have not reentered short positions and I don't intend to do so. So my money is not where my mouth is.

Certainly not you're fault that your money is not where your mouth is. Austrailia just banned shorting any stock period, it would be crazy to enter any short position at a time like this.

Cash is not totally bad so long as you have some gold to back it up. It might just end up being patriotic toilet paper :eek: