Treggs is entirely correct.
The bans on short selling is the dumbest thing the SEC could do to try and stop this decline.
Short selling acts as a natural break in the market, when stocks fall hard, some shorts cover haulting the slide and creating stability.
Its like water rapids, when water goes down hill, if it gets two fast the colder water from underneath comes to the top, causes a rapid, slows the streams decent.
All the SEC has done is pulled out the break.
The market is now a V8 Supercar with no breaks.
If a decline starts to take place, there is nothing there to stop it now apart from the closing bell.
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Last
8,561.8 |
Change
-68.500(0.79%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,630.3 | 8,630.3 | 8,544.7 |
| XJO (ASX) Chart |