There are major international algo operators at work shorting many stocks on the ASX and they are failing to disclose their large (+100k) short positions regularly as is required by Australian law.
I have contacted ASIC about this previously and I was flatly told that they have no power to enforce reporting of short positions to their aggregated short report, especially by foreign entities.
So my question is: why allow these algo traders, who are acting contrary to Australian law, to continue to have access to our seriously compromised public markets?
Is it because of all the trading fees they generate for the asx at the expense of the Australian public?
The following stocks have had very large inexplicable short position jumps yesterday that cannot be justified by shorting as reported over prior days/weeks:
IMD
LYC
CDU
EHL
PPC
AQA
AGO
BKN
BND (big)
MND
DMP
AMC
GBG (big)
DCG (big)
NUF
ELD (big)
RRL
BTU (big)
Now ASIC, I know you are in denial about any problems on the asx, but here is your chance to look for the common thread amogst the activities on these stocks and target an action against this algo shorter. Personally I recommend a one year ban from Australian market access.
But you could just sit back and self-justify the completely random pricing that now exists on the ASX due to the ingress of 'computerized trading' (the computer, after all is an easy scapegoat should anyone be accused of manipulation!)
I can tell you ASIC that all the ASX is now about in Australia is price manipulation. Investment motives or tangible vales have little to do with stock pricing under the ASX's new 'casino' model.
Australia is rapidly becoming the country of the soft-touch where more money is to be made destroying companies than building them.
Stop the financial rape of the Australian public.
Bring back proper disclosure by all wrt shorting.
Reign in the price-manipulation bots by forcing a minimum $500 parcel for EVERY trade except where a final parcel.
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