On Sept. 18, the Securities and Exchange Commission (SEC) said its ban on the short-selling of hundreds of financial companies would end today, Oct. 2, but could be extended.It was. Yesterday, the SEC extended the ban until the third business day after the enactment of the current financial "bailout/rescue" plan before Congress. Here are a few takes from TheStreet.com on what you need to know about short-selling -- now. From Jim Cramer's 'Stop Trading!': Thumbs Up to the Uptick Rule: NYSE head Duncan Niederauer said today that the SEC is considering reinstating the uptick rule. "That would be fabulous," Cramer said. "I hope they don't just do a penny uptick, maybe a nickel or a dime." Read the full version of Jim Cramer's 'Stop Trading!': Thumbs Up to the Uptick Rule.
TheStreet.com Rewind: The Uptick RuleCramer: Uptick Rule Can Help Prevent Crashes (Video, Apr. 7) Without the uptick rule to slow things down, it is much easier than ever to take a stock and crush it, says Jim Cramer. To watch the video, click the player below: