max, The reasons that you list for an enquiry won't stand up to any rational thought.
1.Most that look upon that trading day w ould say that the share trading was rational. The announcement was a long way short of the preceding hype. It was very clear to the impartial observer that the price would fall after the low Jorc numbers came out.
2. Comsec didn't force anything. They are a very large broker with heaps of clients. Their clients no doubt made lots of t races, both buy and sell. Nothing at all unusual there.
3. The volume spike was caused by many traders trying to save their necks after a lousy announcement. Falls beget falls. Margin positions being sold off didn't help. Observers will say that the falls and volume were directly associated with a bad announce ment.
4. The F broker report most likely had little influence. The market for CDU was shot as a result of the poor announcement compared to expectations.
5 . You would expect F to be sellers. No doubt they would have told clients that the Jorc was well below expectation.
6. Dominance of trade by brokers for larger clients is to be expected. No doubt they sold high and bought low. What is unusual about that?
7. Dominance by Comsec. To be expected as they have a very large client base.
8. The XT trades are to be expected. They arise when two clients of the same broker are part of the buy and sell. Exactly as expected when you have a very large broker. If there was just one very large broker, all trades would be XT.
9. Any sensible investor would have been selling in the months before the announcement. The situation was ripe foe a big drop.
10. The price went down all day because most wanted to sell and save themselves. It was a bad announcement.
11. The brokers act to fulfill client orders.
12. It's obvious why the price went down all day.
13. Where is there any evidence of that?
14. Brokers act on client instructions.
No authority will think anything out of the ordinary on those points.
The down day was directly caused by an announcement that failed to meet expectations. Selling is the norm for most announcements. Particularly bad ones will have much greater selling.
Selling begets more selling.
CDU Price at posting:
$4.30 Sentiment: Sell Disclosure: Not Held
