ALC - New Beginnings, page-627

Maysgr

""How convenient was it that in match out there happened to be 1 more share on the sell side than buy side to bring the price down half a cent.""

I was watching closely the close on ALC, because I noticed there was funny stuff going on. At 4.07 pm I placed an order to buy 20,000 shares at 11c and for a split second it was closing at 11c only then to change automatically back to 10.5c . The buy side suddenly reduced by 20,000 to accommodate my purchase order. I then removed my order when I confirmed my suspicions that someone was determined to have this stock finish at 10.5c.
I then placed the order for 20,000 one more time and the same thing occurred. Hardly a coincidence.
I have spoken about this practice before on this forum and it is a shame that blatant manipulation is part and parcel of the daily activities on the markets.
Infact it's rampant. For those of you who follow a lot of stocks you will notice how big orders suddenly appear and then disappear from the screens during pre open and after 4pm to 4.10pm.
Last night it was very obvious what went on with the closing price of ALC.
My little experiment which I have just described confirmed 100% what they were trying to achieve and they were successful in doing just that.

The sad part is no one from the ASX gives a hoot if you should be bothered to call them..

Cheers.