RE:RE:Self Trading2 cents well spent NeoTraderQC!
NeoTraderQC wrote:
Its been like that since the high of $0.61...Big boys want in and its the CSE so they can hire the Anon chair everyday (costs $700 a day) and anyone including any house broker can do it...they send trolls to spread fear on blogs and bullboards, trade between thenselves using layering, spoofing, and iceberging techniques to lower the price, and do dumps to drop the price hard to trigger the stop losses people set to free up actual shares (to cover the naked short they have created using the above mentioned techniques). They cross trade between Anon and an actual house (even though its likey the same broker on both sides of the trade or a colluding trader from another brokerage) , and they drop the price daily each day playing on peoples psyches until they can't resist the idea of a loss, forget why they got in in the first place, and sell to capture some gain and dignity...This cycle around you can easily see it using Pivot points what the algos deployed by various brokers were using as price points, and todays support was the $0.34 support line on the daily chart. This doesn't happen much on the TSX as the Regulators are watching the exchange trades closely, but on smaller exchanges like the CSE they aren't watched as closely so its easier for them to pull it off. Brokers don't need to declare the beneficial holder they are trading on behalf of, so Regulators never will know if it is a real treade or a trade meant to manipulate the price, and the system was designed this way....I worked for the TMX group for over a decade, trust me, I know how this works....Given that half of all the trades in the past 2 weeks have been placed on the ATS instead of the CSE, its obvious this was the strategy, lower the price, trigger the stops, cover our naked short, and start buying so that we can profit on the next leg up and rinse, wash, repeat again, sucking the most money possible out of retail via these trading startegies...Happy for the folks that sold and bought back lower, I didn't this cycle as I expect a big move to come shortly, but I could have added another 200k shares if I had left my sell at $0.57 and bought back in the $0.30s range - oh well...this wants to test $0.77 at some point, when the brpkers will let it trade freely is another story...We need a big signer like the NBA and no leaks to force their hand and move on to easier prey.
My 2 cents.