after market shennanigans and cancellations

Now i've seen everything, if a heavily manifactured closing price of 24 cents for FKP wasn't bad enough, check out the trades after the closing auction at 4.10pm, at that stage the data was ...

VWAP 24.73 cents
CLOSE 24 cents (4.10pm)
volume 14,564,102
value $3,602,453

closing market depth (4.20pm)

78 buyers for 13,220,921 units
94 sellers for 10,966,534 units

Now here's where the fun and games start, look what happened in the aftermath (and is still happening as of 30 minutes ago) and let me explain what the ZERO volumes mean...they are wash trades that got cancelled, here is ASX reply to my email query a few months ago about the reversed trades across various stocks...

"In your second email you mentioned trades with zero prices and volumes. We are unable to comment why you are seeing such trades on your system and suggest your market data provider may be able to assist you further. It is possible that the cancellations you are seeing are cancellations of crossings. Some brokers will systemically cancel crossings immediately after the trade if their system recognises possible wash sales. Wash sales are not allowed because they involve no change of beneficial ownership and they should either be prevented or cancelled immediately by the broker."

For more information on the ASX Compliance function please refer to this link:

http://www.asx.com.au/compliance/index.htm

So they are saying in other words,it cant be prevented, so they have to be cancelled later after the market closes, and everyone looking at the VWAP at that particular time are under possibly huge illusions.

5:52:16 PM 0.000 0 0.000
5:50:38 PM 0.000 0 0.000
5:41:10 PM 0.000 0 0.000
5:26:26 PM 0.000 0 0.000
5:23:55 PM 0.000 0 0.000
5:23:42 PM 0.000 0 0.000

5:21:52 PM 0.255 244,287 62,293.185 SX XT !!!!!!
5:17:45 PM 0.255 18,322 4,672.110 SX XT !!!!!!
5:13:41 PM 0.255 30,536 7,786.680 SX XT !!!!!!

5:11:44 PM 0.000 0 0.000
5:10:05 PM 0.255 61,072 15,573.360 SX XT
5:00:02 PM 0.240 1,099,371 263,849.040 SX XT

4:58:50 PM 0.000 0 0.000
4:58:32 PM 0.000 0 0.000
4:49:38 PM 0.000 0 0.000
4:49:15 PM 0.000 0 0.000
4:33:46 PM 0.000 0 0.000

4:33:37 PM 0.240 107,600 25,824.000 L3 XT
4:32:54 PM 0.240 91,882 22,051.680 SX XT
4:31:39 PM 0.247 715,780 177,083.972 L5 XT

4:30:49 PM 0.000 0 0.000
4:29:51 PM 0.000 0 0.000

4:27:47 PM 0.247 715,870 177,106.238 L5 XT
4:26:22 PM 0.247 715,780 177,083.972 L5 XT

4:20:07 PM 0.000 0 0.000
4:20:03 PM 0.000 0 0.000

4:19:17 PM 0.240 5,314,956 $1,275,589.44 L3 XT !!!!!!!!!!!

and to add insult to injury, the sons of bitches closed out the days rorting at 25.5c despite the shares closing at 24c in real time. The final data looks this way now on Comsec....

VWAP 24.75c
CLOSE 25.5c (5.21pm)
VOLUME 21,980,086
VALUE $5,392,360

market depth (6.30pm)

77 buyers for 13,214,921 units
85 sellers for 3,846,861 units

COMPARE THESE LATEST FIGURES TO THE ONES I POSTED ABOVE WHEN THE MARKET CLOSED !


On IRESS the cancelled trades have more detail, shown like this....

24c -1,658 16.10.08
24c -2,303 16.10.08
24.74c -715,780 shares at 16.26.22pm
24.74c -715,870 shares at 16.27.47pm
24c -239,352 shares at 16.10.08

If you're reading this Mr. ASIC and Mr. ASX, you can both expect a faxed complaint coming down your fax machine's throat first thing Monday morning. ASIC and ASX need to face a Royal Commission as to why they are not prosecting numerous clauses of the Corporations Act, like this one for starters, that covers fictitious buy and sell orders propping stocks as is happening daily in FKP. And let's not forget that rogue algo that let loose a few months ago and sold about 160 odd million shares in a short space of time when they were around 39 cents

CORPORATIONS ACT 2001 - SECT 1041C

False trading and market rigging--artificially maintaining etc. Trading price

(1) A person must not (whether in this jurisdiction or elsewhere) enter into, or engage in, a fictitious or artificial transaction or device if that transaction or device results in:

(a) the price for trading in financial products on a financial market operated in this jurisdiction being maintained, inflated or depressed; or

(b) fluctuations in the price for trading in financial products on a financial market operated in this jurisdiction.

Note 1: Failure to comply with this subsection is an offence (see subsection 1311(1)). For defences to a prosecution based on this subsection, see Division 4.

Note 2: This subsection is also a civil penalty provision (see section 1317E). For relief from liability to a civil penalty relating to this subsection, see Division 4 and section 1317S.

(2) In determining whether a transaction is fictitious or artificial for the purposes of subsection (1), the fact that the transaction is, or was at any time, intended by the parties who entered into it to have effect according to its terms is not conclusive.

You reckon i'm angry ? Hell i'm just getting warmed up, and for the record i dont even hold FKP shares, sold them all a couple of months ago along with all other stocks i held bar for 2 stocks that i still hold in hope they come good one day. These frauds have basically wiped me out for the forseeable future. I've made some good contacts in the media world, and the press you've seen about algo trading of late, has come in part from a few emails i've sent to the right people.

and take particular note of the market depth right now (Saturday), when it doesn't matter....the forces of evil ensured that when the auction process was playing out, the shares closed at the days low of 24 cents....did i say day's lows ? Make that 3+ years lows. The fake sell props troops were there in their millions right up until they had transacted their after hours busines, then the plug was pulled, resulted in the "real" depth, well as real that "they" want to display for us mugs.

64 buyers for 4,279,355 units
77 sellers for 2,806,721 units

If this thing (FKP) gets taken over for a song anytime soon, it will once and for all prove what absolute power these manipulators have. May i remind the regulators, that they are not above the LAW, remember police commissioner SIR Terence Lewis and the QLD Fitzgerald inquiry, he lost his knighthood and got thrown in the slammer along with his bagmen that were on the take in the land of JOH, and more recently in Sydney, high court judge and National Treasure Sir Marcus Einfeld copped a couple of years for lying under oath about a speeding ticket. There simply HAS to be corruption for this manipulation to go full steam ahead for at least a decade (got MUCH MUCH worse in the last 2 years) So lets get to the bottom of it, via a ROYAL COMMISSION, and ask the tough questions. If high profile people need to be locked up....so be it. Everyone's had a gutsful of ASIC and ASX's copy and paste replies to complaints like this to me

Dear Mr XXXXXX

PRIMA BIOMED LTD, MANTLE MINING CORPORATION LTD, EMPIRE OIL & GAS NL, HAWTHORN RESOURCES LIMITED, ENVIRONMENTAL CLEAN TECHNOLOGIES LIMITED, ANTISENSE THERAPEUTICS LIMITED

I confirm that ASIC has received the fax you sent raising concerns regarding allegedly false orders placed in relation to the above named companies. Further, you raised concerns that large orders outside a reasonable market price were not purged.

As previously advised, ASIC values the information we receive from the public, and reports of misconduct such as yours assist ASIC in working to build confidence in the integrity of the capital markets.

ASIC conducts an assessment of every report of misconduct we receive. The issues you have raised will receive careful consideration, and have been recorded on our internal intelligence database.

In determining which matters we will select for further action, consideration is given to the availability of evidence, and a range of factors, including the likely regulatory effect of any available action.

As ASIC is precluded from commenting on operational matters, we are unable to provide further details regarding what, if any, action we may or may not take in relation to the concerns you have raised.

If you require any information on our role as a market supervisor, or enforcement action taken by ASIC, please visit ASIC's website at www.asic.gov.au.

Please note that ASIC will only contact you again in relation to your report of misconduct if we require further information or evidence to assist in our enquiries.

Yours sincerely

Jeffrey Ranner | Analyst | Misconduct & Breach Reporting, Stakeholder Services

Australian Securities & Investments Commission | Level 10, 100 Market Street, Sydney, NSW, 2000