yeah close was predictably held down by very few shares again today, and again blatantly employing the 0.001 sell blocking order tactic to prevent / cause other incoming buys to be diverted to the trading desks formanual review or simply automatic rejection.
12 + 579 shares sold at 0.001 and 0.003 respectively, grand total of no more than $1.78 placed as "orders" during close match out
These are neither marketable parcels, nor is their timing, qty and price level anything other than a direct intention to close lower - the ASX Trading Rules spell it out quite explicitly, or maybe it's the Coporations Act, whichever it's all there as one of the most black and white rules that regulators could apply to those trades which they also can identify for whom they are.
The real question is why don't the regulators take such action ? Why do they even entertain a Close Match Out period at the "end of the day" when we are many many years past an Open Cry manual trading market, we've been electronic straight through processing and issuing CHESS statement for around 20 years from memory - the trading day and match outs is nothing more than prsenting a window of opportuniy for this type of thiing to occur.
The solution is ever so simple, if a true fair and representable market is infact desired:
Maybe the regulators could say that certain companies under a minmum market cap or not having an average daily trade value over a certain threshhold simply don't have / need an end of day Match Out period - that would eliminate the opportunity for the manipulation to occur right away.
Well anyway this was today which I was holding back, but seeing that everyone else is in tune with it going on, lets share and make public so there's at least that question "Why aren't the regulators doing anything here ?"
and this is how it ended up after the 10 minutes of Match Out
also note how they butterred things up again in the lead into Close with the mid-point selling every 30 - 40 seconds too ?
AAU Price at posting:
0.3¢ Sentiment: Buy Disclosure: Held
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(20min delay)