KAR 5.49% $1.44 karoon energy ltd

Orders that I think resemble spoofing

  1. 2 Posts.
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    I’ve been watching KAR for a couple of weeks and, at the end of day while the auction is running, I have seen massive orders being created, amended and cancelled in a manner that I think resembles spoofing. Some days they are massive short-sell-orders and other days they are massive long-buy-orders.

    Today, Mon 5th July, it was massive buy-orders in the 4pm auction that I think resembled spoofing. But I don’t have a data-stream of orders and I’m merely watching the depth/book entries, so I can’t rewind and confirm what I think I saw today in the auction, which was this:
    1) At 16:01, a buy-order for ~650K shares at 147 cents was created (about $955K).
    2) At 16:08, the buy-order for ~650K shares was moved up from 147 to 153 cents (about $995K).
    3) At ~16:09:40, about 20 secs before the end-of-auction, the entire order of ~650k shares at 153 cents was cancelled so the genuine match price was actually 141 cents.

    Does anyone have a data-steam that can confirm the 3 points above that I think I saw?

    Does the ASX monitor and respond to such massive orders like this being placed and cancelled with the effect of moving the price?

    If the above 3 points correctly describe what happened, would that be an example of market manipulation or wire fraud, like the early-smaller beginnings of the “Hound of Hounslow”, and is that as a crime?
 
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