(Thanks to Wall Street Folly)
The SEC voted unanimously on Wednesday to finally get rid of the pesky and ridiculously outdated tick test. The tick test only allows short sales when the last sale price is higher than the previous price. That means a trader cannot short a stock if the movement prior to the short sale is down
Wonder what this means for all of the models out there? (I mean HFT and Algo models, not Giselle Bunchen-type models... but, I am sure that Heidi Klum is overjoyed too!)
©2007 Marc Adler - All Rights Reserved
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