HOW THE ASX WORKS FOR DUMMIES
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PART 1 - WTF IS GOING ON
So you get the countries biggest bank commbank and their brokerage wing commsec. Biggest bank = Best at taking your money. They charge $20 at trade or there abouts. Then you have a company like CRO which is doing fantastic work. Commsec being a giant scab that has just admitted to screwing over its customers for millions in fees (thats the latest crime) decides its a perfect candidate to use as a means to fraudulently extract money from people (especially its own customers). Commsec customers of the novice variety would be ecstatic to discover (on such days that good news was due) that their credit limit (a loan that they say is not a loan) has gone from $1000 to $15000 magically, as has every other of their customers. Barely able to believe their luck that a lifetime of debt is soon to be behind them they put it all into CRO/IOU/FFG and sell all their other holdings to dump into it too along with their bank balance. But commsec is a master scab, they themselves have already purchased many millions of shares with the money they have fraudulently tricked people out of. They have paid groups of scabs that start groups on facebook, post on twitter and more than a couple of deadshits on hotcopper to spead their message of buy or sell depending on their agenda. And then ka-boom the market opens and rocket emojis to the moon. The share price rockets inflated by the short term 'loans' (oops sorry commbank! trading limit in case people dont have the money ready to buy in their account because you understand how important it is to be able to buy at the drop of a hat right? scabs).
Then of course commsec sells their millions of shares and the price goes plummetting. Those novice investers who accepted the very kind loan (oops trading limit
) shit themselves as they are now owing money and not only do they have to sell enough to cover the LOAN they must also sell extra to cover the thousands of dollars debt that their bank just put them into and charged them $20 to get in and another $20 to get out. Of course commsec now buys back the shares they sold for half the price off all the people it just loaned the money to so they could buy them.
Now you know how these institutions like commbank commsec operate and you can see where these mystical rockets materialize from more clearly.
Whilst there will be always some who are shook off in these shakes our beloved cro has held up quite robustly. IGNORE THE BULLSHIT PUMPS. Remember it was only the 15th of FEB and CRO closed at 0.067 and today the 3rd of march we are 0.082 ...thats up from two weeks ago..and now not only is the price up cro has a bonus 20mil in so in the bank to take it higher.
DONT BELIEVE ANY DOOM AND GLOOM. DONT BELIEVE ANY ROCKETS TO THE MOON. THIS WILL GROW ORGANICALLY AS IT SHOULD.
If you bought in high its not the end of the world, wait for the price to catch up and i would bet my left testicle that it will.
And lastly. There is far cheaper brokerage available than $10/$20 now days.
AND FINALLY. DONT TAKE THEIR TRADING LIMITS, IT IS GIVEN TO YOU TO SCREW YOU OVER. They are not trying to help you grow your money they are trying to take it.
As always do all my research and good luck to all hodor's
(20min delay)