no self respecting day trader...

No self respecting day trader should have missed this today...

My god...disgusting profits pulled available here for anyone with the basics of trading capacities...sadly however, as we have seen so many times in stocks like AFG, CNP, MPS, etc, profits for some are more often than not on the back of a coordinated demise on the wealth of others.

This process of killing off such stocks on the slightest whiff of bad news (even manufactured bad news), with margin calls in their focus, has become an embarrassment for the ASX.

It has long been the case that the ASX's processes and procedures clearly facilitated manipulation of the small caps...well now it has well and truly extended into the larger caps domain.

Illegal short selling, legal short selling, short selling via borrowed stock and/or CFD's, autobot trading algorithms specifically set to apply pressure to the natural trading in a stock (both up and down), bid stacking and capping, collusion between parties off market (funds, brokers, boiler rooms)...and finally, sentiment manipulation via the media, forums, numerous other sources...and at times, even via the ASX itself.

It appears to me the regulator is perhaps distracted by the lure of profits rather than governance of a fair and level playing field in the market.

The fox is too busy admiring his new chicken coup...licking his lips whilst counting the eggs rolling down the chute. He appears entirely unaware the coup is flawed with some places better than others, baby chicks in with big chicks, cocks with hens...and even a few of those fighting cocks with wire tied to their legs allowed to have free reign.

The end result is a recipe for disaster...chickens killing each other off, which of course will ultimately lead to fewer eggs!

Once and for all, the market needs to be made entirely transparent, with equal capacities for all participants...from cost of brokerage per trade (ie, reduce the numerous smaller trades), minimum single trade across the board set at $500, the removal of automated systems designed facilitate certain objectives...in fact, they should ban any automated system that does anything but buy (or sell) with the view to achieving the daily VWAP. Absolutely they should ban any automated system designed to react in any way shape or form to other peoples traders....PERIOD!

Last but not lease...we all need to see the broker codes on all trades at all times.

These are our financial markets...not the ASX's...not only the individual, but the entire nation’s wealth hinges thereof. What possible argument therefore for "secrets" from one group, or different trading "rules" for another?

Give the markets an even playing field...and such manipulative plays as that which infected ABS today will no longer have the same devastating effects on innocent investors.

I managed to pull a significant profit from this today...as I am sure many others did...but frankly, for the sake of the market (and especially those ABS holders facing serious losses today), I would prefer not to see such days happen in the first place.

If this sort of targeting continues, it will eventually bring it all undone!

Anyway...held a decent parcel overnight in hope the market may wake up to the level of manipulation that drove this down today!

Cheers!