In the never ending quest to design a system where stocks and commodities never go down (except crude oil, grain and the like, of course) it is not "will the uptick rule return" but "which uptick rule will dominate." Clever, the inevitability of the rule that is implicit in offering four versions for consideration. Plenty of argument wasted on "which version" rather than "should the damn rule exist in the first place." Someone was reading their Monier when they scratched up this plan.
"The past 12 months have seen dramatic increases in volatility of oil prices, bonds, and just about every other asset class. How can anyone believe that the higher volatility of stocks was caused by the repeal of the uptick rule when volatility is higher everywhere?" asks Mr Newman.
Ah, simple fool. Who wants oil prices to constantly drift upwards? (You, in the back. Yeah you. OPEC boy. Zip it).
Uptick rule given new lease of life [The Financial Times]