ADO Charting and Technical Analysis, page-8997

Not that we really needed any reminders of how questionable, or should I say ethical, the trading of ASX listed shares is in Australia, but I had another example today, when I placed order for ADO.

At 1.30 pm today I placed an order for 307,000 ADO shares through Commsec. The previous sale on the ASX platform was at 1.01.12 pm and my order was listed as next in line.

No more trades/orders went through on the ASX platform for the rest of the day, until the closing auction, when a total of 100,000 shares were traded over 5 transactions at 4.10.58pm.

I got 1 of those shares, note! one in my order for 307,000 and the other 99,999 were sold in front of me over 4 orders.

Interestingly, the Commsec site showed that these orders were normal ASX trades, not listed as cross trades.

It a sad inditement of the Australian market when these irregularities seem to occur on such a regular basis.

I am not a trader, but I am sure that is must be a major source of frustration, if not aggravation to retail traders in Australia.

p.s. I’ve added it to the “ADO charting and Technical Analysis” thread, rather than start a new thread!