jazzmox i can't believe that you defend what's going on here. Please read the following from one of my previous posts
i know it's chaotic out there at the moment but
"Under ASX rules, only 10 per cent of any company?s issued stock can be officially sold short"
but foreign hedge funds are working in packs with the cooperation of custodians of super funds to 'borrow' members stock and then sell on the market huge quantities in order to force margin calls and of course cause massive drops in the sp on the slightest of negative news.
the stock is not classified by the ASX as actually being borrowed because it is transferred for a fee from the lender to the hedge fund through a special type of loan in order to get around the 10% rule.
filfthy tactics. I'd love to see the custodians taken to task over this in the courts.
do you see what's going on now??
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