Yes that is right Shorting is legal but the concern here is market manipulation of which the Shorting has played a role. To keep the discussion simple I have referred to it as Shorting.
Thank you for sharing the Shortman.com.au site.
We have a view on who is doing it but we cannot be sure as it is easy to transact through large brokerage accounts and be anonymous.
Yes if the shorts are closed as you have suggested via Shortman.com.au that pressure may be off the market. It is still interesting to see these little algo driven trades with very small amounts of shares trade towards the end of the day. Not every day but often. When they appear sometimes I pick up the "scraps" and get the trades at 1 or 1 .5 cents under the daily VWAP.
Yes the report to the ASIC was on market manipulation not under the heading of Shorting.
Possibly the fact that the ASIC has been briefed on this, the market manipulation might stop, at least for a while. In the meantime I will continue to watch and pick up shares when the opportunity arises.
Thanks again for your thoughts.
Certainly today the market trades look solid.
RCE Price at posting:
57.0¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)