asic comprehensive asx shorting ban , page-3

Cashed up predatory international hedge funds and others have I believe gorged themselves with one free lunch too many at our expense forcing down stocks caught with debt exposure at the end of the boom before they can adjust smoothly to the hugely changed circumstances this year.

Essentially these rich predators have been allowed completely free access to steal our savings. The comprehensive restriction on shorting such a vulnerable small market reacting to international pressures mostly not of our making should have been implemented by a more market savvy government eight months ago.

FWIW I will be interesting to see how removal of this implied negative pressure plays out over the next fortnight in the pricing of ASX stocks, with MQG as a proxy indicator.

Our companies also need time to make the huge adjustments in the face of a probable coming slowdown. Not to be exposed to raped by hedge funds.

FWIW I suspect short selling pressure on numerous ASX companies especially some of the miners over the last nine months has been well in excess of what the official permissible figure should have been allowed or was desirable.