Obviously a co-ordinated action and some SEC guy rang the ASX and told ordered them to ban naked short selling. Being American they wouldn't know that everything works upside-down down under. I can't believe the incompetence of ASX/ASIC though.
Unfortunately it probably means that your average Commsec/Etrader can no longer short but hedge funds and instos still can. Completely unfair.
I would expect that the global pick up from other markets would filter through to sentiment here so wouldn't think we would attract any additional shorting action. Just blindly follow the rest of the world as usual...
naked short selling banned on asx, page-17
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