Time To Get Back In The Markets ; A Sirius (SIRI) Climb
Finally, someone out there is actually doing something for the market, not just for the unemployed. No, Sen. Ted Kaufman and Sen. Johnny Isakson will not go down in history as the ones who brought the bottom of the market for good…, but they should. These two men have co-sponsored legislation that would bring back the “uptick rule”. Why should some investors get to ride the market down, making millions on an almost guaranteed bet… They are, in fact, taking the money straight out of others mutual funds as they are scratching their heads wondering how they can lose so much money so fast.
If you know me, I am typically against most regulation. Short selling is, generally, not a bad thing…, but it has gotten too big too fast. I have seen a stock go from $1.00 to a few pennies in a very short period of time, with more short traders climbing on as the stock plummeted making a very fast, and safe, return of their investment.
“Abusive short-selling is tantamount to fraud and market manipulation and must be stopped — now,” Kaufman said on the senate floor. Thank you Sen Kaufman for looking out for the average guys 401k.
Sirius Satellite Radio ( NASDAQ:SIRI ) is a stock that was just covered in short traders making serious money. Since this bill was announced the stock is already up 100%, and looks like it will continue! Yes, a stock up 100% in a couple of days… that still looks good. There were many investors who bought Sirius ( NASDAQ:SIRI )at .05 cents just last month. This is the exact reason that the average investor loves penny stocks. If you take away the manipulation, pennies are going to multiply.
Citigroup ( NYSE:C )is also another stock to see a large climb since this legislation was announced. A stock which, arguably started the whole bounce back from the bottom based on complete spin, is now actually looking like a good investment.
It could be time to finally get back in the markets…www.TradeKing.com at least time for the average investor… while at the same time pushing the ones making money off of others misfortune out.
*At the time of writing Sirius ( NASDAQ: SIRI ) opened at .40. ( NYSE: C ) opened at 2.60. Both stocks already up today, does not look like either is going to slow down.
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