Quote:
Originally Posted by MikeWaters
I have no idea what you just said.
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I will make it worse. The uptick distorts order flow and forces short-sellers to shadow the ask because the specialist will change marketable orders to limit orders. This leads to a thickening on the offer side of spread and an artificial narrowing of the spread. Thus removing the uptick rule leads to a slight increase in very short-term volatility and widening of the spread.
Sorry couldn't help myself. The preceding should have been the quote in the article. That would have been fun.