Fianlly a broker steps up to the plate and goes on record about the loopholes of short selling and in particular the fact that CFD's are not reported.....
Finally some action by the Rudd government after it said two weeks ago there was no problem at all with Short Selling rules... now comes the Amendment to the Corporations Act (Short Selling) which means hopefully we will have the true positions of shorts reported....now we can target them and get back some of the equity they have taken when they didnt have an economic interest....
Even as late as Friday 3.50 they attacked just about everything on my board at the same time including BNB, despite a good day.......
If you want to restore value now is the time to buy in an orderly way, join the bid, back the bid and move up slowly so the short funds and covered shorts can eat all of their ridiculous blocks, maybe then we can move this equity back to realistic values...my theory of squeezing is that if you cant afford to hold but want to get involved, sell them at the auction, yes they try to dump shares way below the final price, but they play both sides of the auction, so if you place them close to the final price, regardless of their buy sell orders to manipulate the close they will have to buy your shares....
I hope everyone who has been beaten relentlessly will get some value back....and a small step towards market confidence can be restored, its time for some rebalancing, cant wait till monday cause its not just BNB and its funds, MQG, CFG, WBC, ANZ, NAB, ABS etc etc even FMG...
You can find the "reported short postions" of your shares in the ASX200 here http://www.asx.com.au/data/shortsell.txt (Obviously this is my opinion and not Financial advice)
BNB Price at posting:
0.0¢ Sentiment: None Disclosure: Held
