I think the ASX has going trading halt mad since the start of the year suspecting anyone and everyone of market manipulation. Just the other day TAS was recovering from a massive plunge, then it got put in a halt and never recovered, and still has not recovered. Then today OBJ gets a ticket and it fell from 0.041 to 0.037.
Is it that inconceivable to the ASX that people like myself actually trade the market looking for quick gains? The halt in the markets natural momentum is really screwing things up. In the case of TAS I was just starting to come back from a HUGE 50% loss overnight and Mr ASX decided to stop it because without even looking at the share price history they thought there was a breech of Rule 3.1. But if they had just taken a look at the recent price history they would have been able to work out that it was just the market reacting the the SP slide a week or so before.
So if this sort of stupid behaviour continues then I do not feel that continuing to trade on the ASX is really an option, as what it will mean is 'investing' for me, and that's not what I do.
Just wait for the day that the ASX starts placing the same tight as-sed rules on options and warrants and watch all the money be moved offshore.
To the people at the ASX you really are not doing a good job of instilling confidence in your markets and if I was an overseas investor then I wouldn't be putting my money in the ASX market.
Why they don't just wack some trading limits on like some countries do with currency so we know what the upside potential is.
