I do have an account with City Index (amongst others), however I rarely use it, but did have a quick check.
Happy to be corrected mate, CI do offer APG and at 50% (gee that's not a bad deal, I might have to get some through them myself lol).
So that's one CFD provider so far, and a small one at that.
There is no doubt that market making CFD providers can and do try to move prices in a direction that could help their bottom line, but they also often just hedge their position where necessary to cover their exposure.
I stick to my assertion that it is doubtful that the action we have seen in APG can be attributed to some concerted effort by CityIndex or the like to kill the price rise. They would need to have a massive long position on their books to make it even slightly worth their time and effort.
If any readers here hold large positions in APG via a market making CFD provider, it would be interesting to hear from you.
As a full time trader I will look to any stock to trade short term, but I do also have a long term holding in APG, hence my interest. The disappointing thing here is that, logic says a stake to BHP at 20c should have put a floor under the price, and kept APG in an uptrend. This would in turn have attracted more punters, and still provided many short term trading opportunities for those looking for same. Now, many traders will be very wary of entry in the future, for fear of a repeat of the previous "contrarian" behaviour.
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APG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
