The U.S. Securities and Exchange Commission took what it called "emergency action" Friday and temporarily banned investors from short-selling 799 financial companies.
The temporary ban, aimed at helping restore falling stock prices that have shattered confidence in the financial markets, takes effect immediately
I wake up this morning and this is what I find, the entire rules of the game changed overnight. SEC bans short selling
It's one thing to ban naked shorts but to just change a major trading method on certain stocks overnight?
I thought these guys loved free markets? Comrade, not when they are losing money on their stocks?
The ban, covering a list of 799 stocks, takes effect immediately and runs until midnight on Oct. 2. The SEC said it may extend the order if it's necessary to protect investors, but it won't last more than 30 days.
list of stocks that cannot be shorted. Of course Citigroup is in the list.