“Short of the long list of shorts out there in Apple Inc. stock, I don’t think anyone would argue about what seems to be a year’s worth of heavy market manipulation surrounding this company,” jim Goldman writes for CNBC.
“And following the massive amount of media attention lavished on Steve Jobs’ and Apple’s decision to back out of Macworld, I thought I’d address another related topic: What could become a grassroots campaign to bring back the so-called Uptick Rule,” Goldman writes.
“The Apple-centric blog MacDailyNews.com has taken the lead in putting forth the idea that the time has come to take drastic action to prevent even more manipulation than already’s gone on Apple shares. The blog says, ‘There’s only so much Apple shareholders can take,’” Goldman writes.
“MacDailyNews points to an almost incompetent Securities and Exchange Commission (I direct you to a number of horrific financial fiascoes over the past several years, like Enron, WorldCom and now Bernie Madoff) as a reason why regulations need to be put back in place to protect the little guy,” Goldman writes.
“The fact is, posting ‘gaunt,’ or ‘frail,’ or ‘Steve Jobs is ill’ is the financial equivalent of yelling fire in a crowded movie house,” Goldman writes. “And if that kind of thing is going to be tolerated, government should step in and either investigate the manipulators, or bring back the Uptick Rule.”
There’s much more in the full article – which we obviously highly recommend – here.
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