CBB 0.00% 5.5¢ cordlife limited

I KNOW this will be a waste of time, but i have fired in a...

  1. 1,971 Posts.
    I KNOW this will be a waste of time, but i have fired in a complaint to ASX surveylance about the manipulation in CBB yesterday and today, which ended up costing me $320 plus about $45 in brokerage. It's happened to me hundreds of times, and no doubt will happen many more times in the future, such is life trading on the heavily manipulated ASX

    Attention: ASX SURVEYLANCE/ customer service

    URGENT

    Yesterday Monday November 30th, i bought 8,000 shares in CBB at 3.34pm, straight after the trading halt, i thought i would be lucky to get them as there were over 90 buyers and only 1 seller on the screen, who from memory was asking around 97 cents !! I got them at 64 cents, and put them straight up for sale at 69.5 cents at 3.37pm, to my surprise, they had maybe one trade at 65c, then they were manipulated back down on small volume (1 trade for 423 shares and another for 10k shares) to close 60 cents...DESPITE there being 94 buyers and only the one seller (ME) at 65.5 cents. ( i amended it back down to 65.5c at 3.50pm) In the auction period between 4pm and 4.10pm someone put a fake buy order on for 100,000 at 65 cents, i was going to nail him at the close of the auction but he was only there for 2 or 3 minutes and then disappeared, and the price remained at 60 cents at the close of the auction. Then today i amended my sell several times from 65.5 to 64.5 to 63.5 and finally 62.5c, someone was shadowing me with the same size sell order 8000 shares and each time i lowered my price, he or she undercut me by half a cent, finally when i was at 62.5c they went the other way to 65c and stayed there till 4pm...after which time they disappeared. I was then forced to sell at 60c as there was no other higher bidder in the auction, so i lost $320 plus brokerage, and i would say it's almost a certainty that the person i sold to at 60c was the same one that was shadowing me all day forcing me to amend my price down to him (or his team) brokers i know for a fact use this tactic in tandem. this is basically price collusion which under new legislation carries 10 years imprisonment. Please investigate this immediately and urgently, something has to be done to stop this practice, i would say half of all bids in the auction are fakes from what i have observed, and same again in trading halts...buyers suddenly become sellers and vice versa. Also, i have never seen in over 30 years a share with almost 100 buyers and only one or two sellers...go DOWN in price and attract no extra buyers.

 
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