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gumboot
post Posted: Sep 18 2006, 03:36 PM
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In reply to: NightStalker on Monday 18/09/06 03:22pm

The one area the ASX may have to act is in the book balancing time, 4.00 to 4.10, where algorithmic trading is clearly directed to manipulation to achieve a price outcome by combining volumes and levels to result in a closing price > or< than VWAP calculated in open tracing, or a specific price on close. THAT IS PURE PRICE FIXING AND DECEPTIVE UNDER MARKET RULES.
You see this all the time where algos bid and offer BOTH sides af the market to achieve their outcome.

 
will_smith
post Posted: Sep 18 2006, 03:30 PM
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In reply to: NightStalker on Monday 18/09/06 03:22pm

give it up

u cannot manipulate a trend ,always ends in tears

 
annaliese
post Posted: Sep 18 2006, 03:29 PM
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In reply to: NightStalker on Monday 18/09/06 05:22pm

That being the case NS it suggests the rules need to be reviewed. Otherwise we could all try it which I am sure the ASX would not tolerate.



 
NightStalker
post Posted: Sep 18 2006, 03:22 PM
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At least 3 from TopStocks also complained to ASX, as well as those from here. They have it under surveillance, but strictly speaking it's legal - just!





--------------------
Regards, NightStalker

Algorithmic trading, and HFT are rendering Technical Analysis null and void.
 
annaliese
post Posted: Sep 18 2006, 02:46 PM
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In reply to: misterious on Monday 18/09/06 04:36pm

Cheers Misterious.

 
misterious
post Posted: Sep 18 2006, 02:36 PM
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In reply to: annaliese on Monday 18/09/06 02:11pm

I have taken your very sensible advice anna and lodged a complaint with the ASX.

 

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annaliese
post Posted: Sep 18 2006, 02:11 PM
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In reply to: NightStalker on Monday 18/09/06 02:31pm

NS, You would hope the ASX can see the trading for what it is.

It would also be useful if a couple of others who think the sp is being manipulated would lodge a formal complaint to add some weight. We might then get some action.


 
NightStalker
post Posted: Sep 18 2006, 12:31 PM
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In reply to: annaliese on Monday 18/09/06 12:05pm

Annaliese - he snared a few sellers down cheaply at the start of the day, and when it went quiet, he has been raising the price of his churning levels by a couple of cents every 15 minutes or so until he snags another seller. Look at the course of sales and you can see the whole story there.

I suspect that once he finds a few thousand shares coming his way, he'll start to drag the churning price down again, to see if he can tempt a few more out of the woodwork.

I got a reply from the ASX, and they agree that it's algorithmic computer trading, and that they will "keep it under surveillance". Not sure what that will achieve, but they obviously haven't let the culprit know that they are watching yet - the last time they did that, it suddenly stopped for several weeks.

Somebody is really building up a nice stash of shares for cheap prices - perhaps a broker (would explain why brokerage for all the small trades isn't a problem for them) or a small boutique fund somewhere.





--------------------
Regards, NightStalker

Algorithmic trading, and HFT are rendering Technical Analysis null and void.
 
annaliese
post Posted: Sep 18 2006, 12:05 PM
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In reply to: NightStalker on Saturday 16/09/06 11:03am

NS, its interesting to see our black Box trader is now pushing the price up for little(relative) capital outlay.

Perhaps attempting to add value to the cheaply accumulated shares.

 
The Zinc Punter
post Posted: Sep 18 2006, 11:59 AM
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In reply to: annaliese on Monday 18/09/06 11:55am

yeah, I'm not in a rush to sell, as long as I believe its heading in the right direction

 
 


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