ATTENTION: ASIC COMPLAINTS
URGENT
I would like to lodge a complaint about the unusual trading that occurred on Wednesday June 27th 2012 in the shares of LYNAS CORPORATION (code LYC) The shares opened at a price of 89.5 cents, and fell to 86c by noon, then another 3c to 83c by around 12.45pm, then 80c half an hour later, and between 1.15pm and 1.23pm the SP fell from 80c to a low of 73.5 cents on very small volume. This was an orchestrated attack to trigger stop losses on warrants CFD's and shares alike.The large institutions ,hedge funds, brokers and market makers know at what levels the majority of stops sit at. I would call that insider trading or abuse of market knowledge but no doubt you would have a different view. To highlight how BLATANT this was, the buy market depth fell away from around 5-6 million at 1.15pm to a LOW of only 900,000 in the space of 8 minutes, with a MASSIVE 22 million on the sell side at the same time ! I have NEVER EVER seen anything even close to that in the years since live prices and bids were available online, and we are talking a company with a market cap of 1.5 BILLION dollars, not a penny dreadful 2 cent mining company. This was COLLUSION on the part of big brokerage houses/hedge funds to orchestrate this sudden precipitous drop in share price to have maximum impact. To arrange to have NO BUYERS queueing up and a SWAG of sellers wanting to sell out at the exact same time. And then the shares rallied very quickly to 82 cents, almost a 9 cent recovery. and the VWAP incredibly closed almost EXACTLY at the days closing price, all that with some 72 million shares traded. I have lost at LEAST $5000 in the past 3 months trying to trade in this company, always losing either via stop loss trigger, or holding on in vain hoping for a price recovery in a day or two, only to see repeat and rinse of the same cycle day after day and eventually selling out at a BIGGER loss than I would have had if I sold on day one.
We retail shareholders are being slaughtered in droves by the greedy hedge funds who are plugged into the ASX via dark pools and see information that we are not privy too, apart from being able to trade in and out by walking the price in a chosen direction via algorithms and paying a NEGLIGABLE flat fee to ASX for this privilege because of their high volumes. I must pay $20 brokerage for a trade up to $20k. How is that fair ? And centre point trading is yet another advantage they have, stopping us in our tracks by jumping between either half cent or full cent increments, whatever applies. I have basically lost my life savings in the stock market in the past two years, mainly because of shorting (yes bad market and bad choices played a part) I am CERTAIN I am not a lone voice, the way things are going, no retail traders will be left within a year, only hedge fund Vs hedge fund, it's now all controlled by the big firms, us little guys are being stomped into the ground. I cant even get a hearing with the likes of ASX ceo Elmer Funke Kupper, or ASIC's Belinda Gibson (deputy of ASIC) apparently these people are not answerable to Mr. Joe Average. WHY NOT ? And why can’t we retail folks see broker I.D's for each buy and sell order, we once could do so, why not now ?? Why are 1.2 million orders both buy and sell in Telstra, appearing and disappearing in short periods of time every day without that amount of volume being transacted in the interim ?? Take it from me, I don’t have a big slush fund to take on the might of an organisation the size of ASX or ASIC, but if 20,000 people like me feel the same way....what then ? I'm sure there are multiples of 20,000 burnt retail shareholders out there looking for answers to questions like mine. People with superannuation, many of them retirees, have copped the brunt of this market crash, made so much worse by unpoliced market fraud by large institutions like (******* *a*** you know who you are) And ASIC are supposed to police market fraud/manipulation/insider trading/collusion, has the cop on the beat gone missing ????
Yours Sincerely,
XXXX
*******************************************************************
If you lost money on Wednesday due to the SP plunge please lodge a complaint, here is the link and fax number
FAX: ASIC COMPLAINTS (02) 9911-2414
www.asic.gov.au
https://www.edge.asic.gov.au/008/complaintV006?get/complaintDetails/t=2a5748eaa4da3d83f8cfe728373464bdd24568f4
- Forums
- ASX - By Stock
- LYC
- my complaint to asic lodged by fax today
my complaint to asic lodged by fax today
-
-
- There are more pages in this discussion • 64 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add LYC (ASX) to my watchlist
|
|||||
Last
$6.25 |
Change
0.080(1.30%) |
Mkt cap ! $5.841B |
Open | High | Low | Value | Volume |
$6.25 | $6.26 | $6.17 | $15.83M | 2.513M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 18985 | $6.22 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$6.25 | 53073 | 5 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 81 | 6.180 |
2 | 12000 | 6.160 |
3 | 15000 | 6.150 |
1 | 1000 | 6.140 |
3 | 5534 | 6.100 |
Price($) | Vol. | No. |
---|---|---|
6.250 | 43756 | 3 |
6.260 | 1545 | 2 |
6.280 | 3279 | 1 |
6.290 | 27747 | 5 |
6.300 | 17068 | 11 |
Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
Featured News
LYC (ASX) Chart |