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Strategies & Market Trends : LastShadow's Position Trading
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To: dj8000 who wrote (3591)12/3/1998 2:24:00 AM
From: Ira Player  Read Replies (1) of 43080
 
The intent of the uptick rule is to protect a stock that is declining from being attacked by short sellers.

Since short sellers can only sell when there is an uptick, they are kept out of any steady declines. They cannot enter until the stock has stabilized and there is sufficient buying interest to generate an uptick.

If you are Long and Short at the same time, you are flat the market. By selling the long position, you are going short. Since there is no reason to be Long and Short other than to get around the uptick rule, netting all accounts is aimed at leveling the field.

Ira
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