Painted Pony Pete Ltd PDPYF

RE:RE:RE:RE:RE:Gate crasher Scotia bank

[CH4RTQU4NT]

That sucks. From my experience stop losses are ostensibly available to help retail investors/traders protect their gains or limit losses, but in reality they serve the Market Maker's much more effectively while triggering more commissions for brokerages. Institutional traders have Level 3 data feeds that show the real market depth on any given security, so if there is a large cluster of stop losses in a certain price range, they can force the price down using various methods in order to scoop up cheaper shares that have been approved for sale. After PPY's recent run there are no doubt many stop loss orders, one of the only reasons "TA" has any merit because imaginary support levels become a self fulfilling reality due to fear/market psychology. It's a dirty game but entirely legal.  If you're a long term investor it's best not to use them at all. If you must, then place it far out of the money or keep mental stop losses. 

Jsbachfan wrote: I was a victim of this. I placed a stop loss ( In my account with Scotia i Trade) yesterday for $10.50. I have complained to Scotia and am awaiting details of the transactions at the opening this morning but from what I see so far, it stinks to high heaven.

When I receive the record I have requested I will probably refer it for investigation. If there are any other victims feel free to join me.