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ASIC to probe short selling of shares, short selling of shares - illegal trading activity
mpl
post Posted: Feb 25 2010, 04:09 PM
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In Reply To: mistagear's post @ Feb 25 2010, 03:42 PM

Hi Mistagear

Even better when you consider that the Long players were most likely the ones that the
Short sellers sold too in the 1st place. biggrin.gif


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mistagear
post Posted: Feb 25 2010, 03:42 PM
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In Reply To: flower's post @ Feb 25 2010, 02:02 PM

Let me figure this out.

10% per day x 5 days = 50%

So a $10k pos on 5% margin is $5000 profit or 1000% on margin hmmmm
OK, that should stop the bad guys, restricting them to such miserable returns in a bear mkt
After a few weeks they will all be on holidays and the long traders who bought the covering bounce will be left working out their average down price...

Sorry, just a thought
Cheers, M



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flower
post Posted: Feb 25 2010, 02:02 PM
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In Reply To: watchmaker's post @ Mar 23 2009, 07:46 PM

Also, it very much looks as if the uptick rule will be restored across the board in the US, as it should be here. Ours is a small market, and we can do without market manipulators
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Hi Watchmaker--your wishes complied with--in the US.
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NEW YORK (MarketWatch) -- The battle raging around the short-sale rule approved Wednesday by a 3-2 vote before the Securities and Exchange Commission is more than a clash about where to set the limits for the shorts, it's about the purpose of investing.

After more than a year of debate, commissioners approved curbing short sales of a stock after it falls 10% in one day. In spirit, it resurrects the old uptick rule, a Depression-era law that only allowed investors to take short positions on stocks that rose, or ticked higher. The law was removed in 2007. See Market Pulse on SEC ruling.



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Combining Fundamental comments with Fundamental charts.
 
blueice
post Posted: Nov 19 2009, 08:33 AM
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Ouch! Check it out...............

One.Tel chase a $35m flop


THE corporate regulator has suffered a crushing defeat and been left with a $35 million legal bill after its pursuit of One.Tel founder Jodee Rich and former finance director Mark Silbermann was yesterday thrown out of court.

http://www.theaustralian.com.au/onetel-cha...x-1225799512526


 
watchmaker
post Posted: Mar 23 2009, 07:46 PM
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In Reply To: NightStalker's post @ Mar 23 2009, 09:15 AM

Yes I read that US report too NS, naked short selling is a dead duck in Australia, and so it should be, it is not the least constructive. Rather it's nothing more than a playground for those who indulge in predatory behaviour. I can see it coming to an end the world over, indeed I'm surprised ASIC ever allowed it here. Then again, they have never been much of a watchdog, it's only in recent times they have responded to a public outcry. Let's see if their barking continues

Also, it very much looks as if the uptick rule will be restored across the board in the US, as it should be here. Ours is a small market, and we can do without market manipulators.

 
User
post Posted: Mar 23 2009, 10:03 AM
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In Reply To: NightStalker's post @ Mar 23 2009, 09:15 AM

my one other comment is thank god we don't have the same system of 'market makers' they do in the US. These people are another source of manipulation.

 


User
post Posted: Mar 23 2009, 10:02 AM
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In Reply To: NightStalker's post @ Mar 23 2009, 09:15 AM

NightStallker, thanks for that bloomberg article ... fascinating. I hope they ban 'naked shorts' they serve no purpose. Shorts in general do provide liquidity and add to ASX profits. All this crap about motivation to research and publish about failing company's is crap. If a company is failing let it go under without the manipulation of 'naked shorting'. There are plenty of derviates out there that can or could serve the sharks if they wish to bet that a share price will go down. They prefer to do it by shorts as it spreads the panic and fear and thus increases their profits. There is NO useful purpose for naked shorts!!!

 
NightStalker
post Posted: Mar 23 2009, 09:15 AM
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I think Bloomberg have changed server on that link. Here's the full link:

http://www.bloomberg.com/apps/news?pid=206...&refer=home



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Algorithmic trading, and HFT are rendering Technical Analysis null and void.

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arty
post Posted: Mar 23 2009, 08:13 AM
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In Reply To: NightStalker's post @ Mar 23 2009, 07:36 AM

URL is redirected to a Bloomberg message saying
page doesn't exist or cannot be accessed atm.
is there a special login needed?



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I trade daily, but I am not a licensed adviser. Whether you find my ideas reasonable or not: The only person responsible for your actions is YOU.
I follow two rules: (1) There are no sacred truths. All assumptions must be critically examined. Arguments from authority are worthless. (2) Whatever is inconsistent with observed facts must be discarded or revised. We must understand the Market as it is and not confuse how it is with how we wish it to be. (inspired by Carl Sagan)
 
NightStalker
post Posted: Mar 23 2009, 07:36 AM
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Good article on Bloomberg this morning:

http://tinyurl.com/c7694x

Apart from the specific case of Lehmans, read on for some good comments about how shorting IS used to manipulate the market.

We definitely need at least the uptick rule to be reintroduced in Australia...!



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

Algorithmic trading, and HFT are rendering Technical Analysis null and void.
 
 


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