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54.5¢ slater & gordon limited

Good spotting Quingees ... the episode still reeks of...

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1,098 Posts.

82

19/03/16

08:11

Post #: 17316916
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Originally posted by Quingees ↑

The following excerpt from an ASX memo may clarify. The excessive trades were just the result of an adjustment because SGH was removed from the S&P/ASX 200 Index effective today.

"On the Index Rebalance day, a larger than usual volume is typically traded in the
affected securities and this may result in price volatility, both during the day and
especially at the closing single price auction.
It is recommended that Participants be aware of the likelihood of increased volatility
particularly at the closing auction and take necessary steps to notify their clients of the
need to manage the rebalancing of their portfolios throughout the day so as not to have
unnecessary price impact by entering large orders right at the close. Orders should be
entered as early as possible for the closing single price auction in order to allow the
market sufficient time to take any order imbalances into consideration."

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Good spotting Quingees ... the episode still reeks of manipulation though as the sellers achieved a higher average price for those 6.66m shares than they would have obtained in the open market.
It'll be interesting to see if the buy side holds it's strength on Monday.

SGH Price at posting: 27.5¢ Sentiment: None Disclosure: Held
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