Yep a huge sell on the ASX closing auction of $252.84 for a massive amount of 28,003 shares over 6 small parcels. Even more ludicrous is the amount left for sale at 0.009 of 5,646 shares for a whopping price of $50.81.
Seems approx 15 million, over the ASX and CHI, shares sold today at 0.009, and somehow they missed selling the last few of 5,646, and someone got keen and had to sell 28,003 at 0.008 in the closing auction??
Yes I get the VWAP manipulation only has a few days to go, and what is happening is blatantly obvious. Oh I forgot, the ASX isn't manipulated.
What a joke, had the same thing happen today on 3 other stocks I own, for a few dollars, price dropped, and it happens regularly with a SP push down manipulation for various reasons.
The trade on close is small, but it if done regularly on small volume can push a SP down on Small Cap stocks significantly on a percentage value, oh and that is representative of the market??? Mind you it happens all over the market as well, particularly on small volume traded that day or over a few days. Interesting what can be achieved on small trades to influence the SP on auction, and then continues on the next day.
I guess the ASX really doesn't even bother to look anymore, as they have no intention of fixing it, as it suits them and who ever benefits, and so no one to even bring them into line, so I guess it will get even worse.
Mind you the banks thought the same thing for many years, so there has to be a way to get the blatant manipulation on the ASX fixed. No doubt wishful thinking.
A dumb question, as it seems ASIC are incapable, and are encountering problems with the royal commission at the moment, so is it possible to get the RC to add the ASX to their terms of reference for part of their financial review, as the Stock Market is part of the financial arena?
Lobbying politicians isn't worth one's time, as too hard for them to even understand and not of interest, but I guess if enough complained to the same place it might get something happening, instead of the endless referral of ASX to ASIC and back again, which is a closed circuit and very convenient.
Anyone got any ideas on where we can all complain to, that might have some affect on change to how the ASX works? Make it at least a fairer playing field, as 1 share at a time relentlessly and many other idiocies should be stopped.
Somehow the Banks weren't immune forever, and neither will the ASX be, we just have to figure out the right path to achieve the same result, with all complaints being directed there, so that an independent enquiry will be done into the Stock Market operations. Who knows, we might end up getting changed at least some of the fixes we all know should be implemented.
Enough voices got the banks brought to task eventually, so not impossible, just not probable I guess, as not many will take the time to try and change things, and the reason we have what we have now.
I am now really over the even more blatant manipulation of late on many stocks, and just saying 'it is part of the market' and accept it, seems ludicrous when there are supposedly penalties for such behaviour.
However, no one wants to investigate, so how would penalties apply with no one willing to investigate anything, and so no deterrent at all, and why it is just getting worse.
Eventually, like the Banks, people will have had enough, and then things will change. I wonder how long that will take, given the rampant and flagrant disregard for the rules now currently on show. I guess will depend on how many times you like being ripped off by those that are being allowed to get away with it.
Yes I know I am having a rant, but I am increasingly frustrated with what I can see is blatant manipulation, which 'supposedly' shouldn't be happening.
I can see where it is headed and I am getting out of the stock market, and working towards that goal, as the playing field seems to have a very distinct down slide now, more than ever before, for retail investors.
Logically, it makes sense, that without the application of penalties to deter the manipulation, the more the manipulation increases, so eventually less will participate. Therefore, further more bold manipulation will be required, and it seems, under the current regime, it will be allowed, so they can try and achieve the same returns.
Happy to leave the ASX manipulators with nothing to play with, certainly not my hard earned cash.
I hope they end up wondering what went wrong, when the money being put into the ASX stock market continues to shrink, which I suspect is happening already. I feel sorry for the genuine companies on the ASX, and can see why they seek listings elsewhere, as the money pool here is shrinking.
Hopefully in hindsight the ASX manipulators might realise that greed blinded them to thinking about the ramifications of ripping off more blatantly and ruthlessly to obtain their required profit. Eventually there will be less and less playing the game, as people aren't stupid, even if the manipulators like to think they are.
Nice thing is, if the ASX allows the continued increase in manipulation, to the point where many like me can see it isn't worth participating, the manipulators and the ASX lose, and they really deserve that for their blinding greed and stupidity.
Just my odd thoughts and observations as usual.
cheers
gsmaree
