Asteroider on the ASX General forum wrote:
"Market wide algo activity indicates the shorts are moving towards the end game.... trying to trigger a market wide panic meltdown. Algos stacking and selling in waves and a few stocks are getting 'flash crash' events to drive any buyers away and start whipping up a panic.
Watch for the managed funds dumping their holdings onto their own shorts as a sign of a bottom, at which point ASIC will be instructed to ban further shorting to place a floor under the market once the smart money has closed out and gone long after inducing panic amongst the retail end."
He says a lot of wild stuff, but this point of his certainly looks the goods for what we've been forced to swallow today.
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