Avion Gold Corp AVGCF

RE: From Breakout to Breakdown

[jeg4]

The tsx is now in a bear market from a traders standpoint. What we saw was a classic pump and short move by some large trader or more likely an institutution. This is how it may very probably been played out IMHO:
This trader saw a nice ascending triangle  and realised that the customary break out from such a pattern was unlikely because both the tsx and gold miners indexes are currently bearish. You will see he/she/it was accumulating throughout the 16th and during the day on the 17th. With all the rooky traders buying in anticipation of a breakout he/she/it put is a short ~ $1.79 and took out out all market and buy on stop orders and made a massive paper profit.
Is this legal? Yes. I used to fall for buying on ascending triangles and often lost my shirt. My rule is never go against the sector index direction (gold miners ie $hui) or the major index. (TSX).
This transaction could also  been made incredibly easy with high frequency trading and now the ability to lease computer space AT THE EXCHANGE for a mere $50K per month. The exchange loves it. The SEC loves it and the Government loves it. In my opinion it is illegal and begs retail traders to get together and go after these worthless parasites. 
J