"The advocates include long-term investors and corporations who believe that short selling contributed to the destabilization of the markets. Opponents include hedge funds, day traders and riskier investors who believe that short selling is a great opportunity to capitalize on a down market."
Short sellers may also be long traders that are hedging! Hedgers are not speculators and may need to short in order to hedge or reduce risk.
http://www.etftrends.com/2009/03/what-effect-will-the-uptick-rule-have-on-etfs.html
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