Max,
I doubt SOSL would even think of doing the wrong thing barely 12 months after they were fined a record amount by the ASX after being caught not abiding by the rules. The ASX even appealed the original fine as they felt it was insufficient (and had the fine increased). With that in mind the ASX would be all over SOSL if they had a further report of manipulation.
http://www.theaustralian.com.au/bus...-phantom-bidding/story-e6frg8zx-1225717103210
So you can see the ASX does act and if they investigated trading that day and cleared SOSL, keeping in mind that the ASX took action previously then it seems clear that they did no wrong.
And BBY may be bigger than you think
|
Column 1 |
Column 2 |
1 |
2010 |
- Averages over A$150 million per day in equity volume, making BBY the fourth largest domiciled stockbroker in Australia.
|
And lastly the supposed substantial increase in shorts. an increase of 460k of shares on 18th or an increase in short % of 0.36%, covered the next day. If there was a sting on and collusion between brokers, would you not think that the short positions would have been huge leading up to the JORC release and not a mere 0.51%. That is ASX bottom quartile and not substantial.
|
Column 1 |
Column 2 |
Column 3 |
1 |
Date |
Number Short |
Short % |
2 |
13-Aug |
698,811 |
0.51% |
3 |
16-Aug |
706,056 |
0.51% |
4 |
17-Aug |
705,114 |
0.51% |
5 |
18-Aug |
1,166,143 |
0.87% |
6 |
19-Aug |
565,979 |
0.39% |
7 |
20-Aug |
457,805 |
0.33% |
And as far as losses go, you would need access to every brokers records to see what each individual holder serviced by the broker bought and sold for.
I could continually counter every conspiracy argument with facts but I will not bother anymore because it is pointless exercise. Just the same as the list of companies that you or the researcher you are relying on blaming shorters for price falls when 5 minutes research shows there were fundamental business reasons for the falls in every case.
The ASX investigated and found nothing even though one of the brokers had been prosecuted by the ASX and fined not long before so SOSL would not be getting off scot free if there was anything untoward.