I contacted the Ombudsman 3-4 months ago and they did an "investigation" meaning they decided my complaint was worthy of going to a higher level, and the lady there was quite nice (she herself used to work at ASIC) but alas after about 2 months of regular communication by phone and email, they got back to me and said, after conducting our investigations of ASIC, we have found that they have acted properly on the information available. ASIC also reminds me that i can take the matter further if i get in touch with a lawyer. Unfortunately i'm not Bill Gates or Rupert Murdoch with deep pockets, and if i were i wouldn't be sitting here typing this post or be in this position. My last port of call is my local very high profile Liberal member, who is being handed a 60 odd page submission that covers algorithmic trading in DETAIL, plus other things like front running fake orders. Now they have even re-introduced after 7 years in the wilderness U bids that dont need to disclose how many shares they are buying or selling, goes on in the blue chips especially TELSTRA, also centre point trading where the bot scum go the gutser and get half cent trades on stocks over $2 (we cant) and quarter cent trades on stocks under $2 (we cant)If the liberals get in, my local member i'm sure will champion the cause, many others have also contacted their local member with this detailed submission, it's our only hope to have the law changed to have a FAIRER trading environment (it will NEVER be totally fair) Anyone who is interested, go to the Algorithmic trading forum here on hot copper and look up posts by Stumacca, he is the author of the submission, his email address is in several of his posts, he will end you a copy via email if you want your local member to take this up. I'm not bothering with ACCC or any more govt bodies, we need laws set in stone in parliament, i dont care what they do or dont do in USA, home of the brave land of the free, just because Goldman Sachs is a defacto govt in the states doesnt mean we have to follow the same path here.
p.s. "they" did a good job on Dominion shares yesterday, down a whopping 18 cents to close at $2.22 very close to 12 month lows once again, after hitting $2.45 earlier in the week. makes any 7 cent dividend pretty meaningless eh ? On the positive side, gold was up around $11 last nite, so PERHAPS a small rebound on Monday...if we're lucky.
DOM Price at posting:
$2.22 Sentiment: None Disclosure: Held
