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ASIC to probe short selling of shares


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In reply to: flower on Saturday 06/12/08 11:49am




'Ruthless short-selling sharks' operate from many bases in the world, Australia, USA, UK,

included . This activity and its source is not confined to the narrow selection of countries mentioned in the Canada related article.


I hope you are not trying to imply that 'overseas' short selling pressures are being exerted solely and exclusively by operators based and located from only those countries mentioned in the lifted paragraph article, (posted by the member 'Twobees' at the Commodities thread, originaly written by author G_Arenberg), while failing to make mention of the many other country based operators/(hedge funds) engaged in the practice, some working from very close to home.




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QUOTE (nohoper @ Wednesday 10/12/08 03:10pm)

Both. Look at the short history and employment of the naked shorting tool. The whole market right now is a coil ratcheted up so tight that when some event happens to give it its dynamism back the place is gonna go through the roof.

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A question, has one single person yet been done for short selling when they shouldn't be? I havn't heard anything in the media here or in USA?



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In reply to: arty on Wednesday 10/12/08 11:17am



This argument that we cant change it so lets just accept it and work around it is to me is counter productive to a good society. Imagine if the solution to every hard problem was simply to live with it and work around it. What we would have is chaos. At the absolute extreme people wonder how someone like Hitler came to power. It was because too many people said "Oh its too hard. We will simply put up with it and work in the system". Problem was in the end the system chewed them up and spat them out.


At the moment the inmates are running the asylum, and this situation will worsen until complete arnarchy prevails unless the market participants make their feelings known.


Fortunately, more and more, market heavyweights like Chris Cuffe and Antony Taggliaferro (God knows if I spelt that right) amongst many others are calling for an end to this. It is also consoling that at least a majority of posters to SS also call also support this position.

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In reply to: rossw on Wednesday 10/12/08 11:13am



The markets best interests are the best interests of its participants, which in the broader sense here is the general citizenry because indirectly they are all affected by the markets.


In predicition of the next question "Who decides the best interests" that will be government and its extensions, as applies to all public instruments where people come together to do transact in a fair manner.

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In reply to: cwjohn on Wednesday 10/12/08 01:44pm

Thats about the size of it. Dont know quite how this gets sorted out, because the ASX came about as a public company by the demerger of the old Membership of the SE which was the elite of the old boy network.


Things have enlarged enormously since then, the worst thing is that the ASX is everything rolled into one, including judge and jury.


Untill that is changed not much will be acheived, however the 60% majority who arent short term traders--who have got decimated--will simply have to make their feelings known in a much louder way, and whilst nobody wants the dead hand of Government regulations taking over, the ASX had better look to their laurels, because only the 40% minority want the present Casino either.

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In reply to: flower on Wednesday 10/12/08 04:45pm

hate ASX that much you shorter bashers??


OK, how about join me, so we can short the crap out ASX?? see if we can sent it to broke??

i guess not!!


you know how i feel about those who bought PDN at $6,7, 8, 9 10 NS.

you know how i feel about those who bought OZL for the blue sky.....


should we bring those ramper instos to justice??



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In reply to: early birds on Wednesday 10/12/08 05:25pm

oh, by the way.

who ever shorted RIO at 30ish, how is their life like today?? in hell i guess!! http://www.sharescene.com/html/emoticons/lmaosmiley.gif


C'mon guys, there is no perfect world out there. that's why comunism can't be achieved, because it's against human nature-------greed and fear!!



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