WGX 1.08% $2.80 westgold resources limited.

If 'someone' has info re a T/O, they are not allowed to trade on...

  1. 3,205 Posts.
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    If 'someone' has info re a T/O, they are not allowed to trade on this info.  And they are not allowed to manipulate the share down.


    Here is a true story:  a few years ago I made about 100,000 on a real estate stock - thinly traded.  The stock was always bopping around between 10 cents and 11 cents.  I valued the REIT smack dab at 10.5 cents.  So I always had a buy in at 10 cents and a sell at 11 cents.  The share was so thin it was only ME as Mr Market maker.  And only with about $10k of shares at 10 cents and $10k of shares at 11 cents.


    I traded $5,000 lots.  If I bought $5k at 10 cents I just put it for sale at 11 cents.  If I sold $5k at 11 cents, I just put the buy in at 10 cents.  I made $100,000.  Simply 200 trades over a year and half at $500 a trade.


    I had a friend who worked at Commsec.  I shared my good fortune with him one drinking weekend.  I used Commsec.  The Monday following the weekend my account was frozen for 'price manipulation' by Commsec.  I complained to ASIC (and CC'ed Commsec).  Then Commsec terminated my account.


    Now if what I did was SHARE MANIPULATION and I was allowed to be 'terminated', then what is happening to WGX is complete manipulation.  But maybe for OUR GOOD.  Is it good I bought at 1.14 and doubled down at 1.06?


    Remember, according to Commsec and ASIC one person / entity cannot buy sell both sides of the market.


 
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Last
$2.80
Change
0.030(1.08%)
Mkt cap ! $2.527B
Open High Low Value Volume
$2.80 $2.82 $2.76 $9.255M 3.316M

Buyers (Bids)

No. Vol. Price($)
1 11822 $2.80
 

Sellers (Offers)

Price($) Vol. No.
$2.81 48779 5
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Last trade - 16.10pm 27/11/2024 (20 minute delay) ?
WGX (ASX) Chart
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