RE:RE:RE:Market Manipulationhappyretirement wrote:
So what you are saying is that algorithmic trading that is affecting both the US and Canadian markets simultaneously are legal and above board. I thought we were not suppose to read
to much into the TD trading the day of their downgrade, yet becoming the largest purchaser of
CXR shares that same day. But that was brushed off as retail investors. Guess I read too much into just plain coincidence when it comes to trading stocks illegally.
JMO
Algo, or HFT, trading is not illegal.. It benefits retail investors because it keeps the stock liquid. When the liquidity drops out of the stock ... trust me you don't want to be holding the stock.
TD as an institutional holding sold out at the end of December. When you see TD on level 2 it is their direct investing clients. If you go to nasdaq.com you can see what each institutional is holding (albeit it may be outdated as the 13F or 13G filing is for the q past). Below is a partial screen print showing Toronto Dominion Bank holdings as of the last 13F report from this website (click on "Institutional Holdings" on right menu bar.
What you are seeing is computers trading programmed to trade the stock and they may also be programmed to take advantage of an arbitrage in currency fluctuations between the two exchanges. I am not saying that they couldn't be programmed for algorithmic short selling (and this isn't illegal either) but you are looking for a conspiracy theory when there just isn't the interest in the stock as lets face it, there are much better risk-reward profiles out there with unsecured bonds trading at a >30% yield is telling you that there is a high probability that the unsecured bondholders do not think they will get paid - which puts the equity at zero.
Read more: https://www.nasdaq.com/symbol/cxrx/institutional-holdings/decreased#ixzz4a8QNdW3T