I refreshed my last sell order for 15k AGS at 41 cents yesterday morning, as it was due to purge last night, the 4 weeks time frame was up. When i looked this morning, my order was again purged. I rang comsec, they they told me that the reason ASX purged the order was that "it was too far away from current market price" (22cents) and could be deemed manipulative. I then asked them to take a look at the VIL sell depth, and at the bottom of that sell depth, there are 3 sellers with the following volumes, been there since March 2010...how do i know this ? because i've held the dirty dogs since then. (and bought heaps at over 2 cents average)
bottom of VIL sell queue
350,000 at 12 cents
500,000 at 15 cents
221,052 at 16 cents
So how is that allowed to be left on for well over 2 years, when the current price is around 0.004 of a cent and they have never even been 10 cents in their history. The operator was able to over-ride the block and put the order on, but that's not the point. If i were overseas or not able to ring, it wouldn't be able to be put on. Is that fair, just because these AGS shares have gone down to almost a third of what some of them cost me quite recently ? Just another way to screw the general public, much better off chancing your arm at the casino or the races, at least you dont have rogue line-wipers or bot attacks to worry about. **** ASIC and **** ASX, brothers in arms totally ignoring blatant fraud on our market every single day.
two sets of rules for traders
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