Thanks for the info I didn't know that actually existed. This explains how they can stop a stock
like JCP from crashing more then 10% unbelievable what SEC can get away with.
*****In February 2010 the Commission adopted a new short sale price test restriction, which is commonly referred to as the “alternative uptick rule.” The alternative uptick rule is designed to restrict short selling from further driving down the price of a stock that has dropped more than 10 percent in one day compared to the closing price on the previous day. *******
I covered a 1. 5k share short under $8 tried for hours to short again when it short up
on all the short covering bounce and got no the shares available BS. Millions of shares were
being covered plenty available.
Finally was able to get a new short position in toward the end of the day at a lower price
one big scam in my book.
#$%$ could you imagine if the market wasn't at historic highs what this stock would be trading at.
The turnaround come on what has it been almost 2 yrs this is JCP its not going to get better
and the debt would wipe out any chance of turning a real profit.
The very best they could hope for is stagnation