OK NOW SERIOUSLY... Wen will this share bottom out?

[Taurus]

This is actualy very wierd..so the poor bugger that wants to buy at 15c is stufed??

[asylum]

Hi Simon I,m confused you say you can buy or sell at any price you want but if someone wants to match the bid price you say their manipulating the share price. How does that work?

[ABuzz]

Maybe I should offer 1000 of mine at 15 cents and see whether OST object or intervene.

[Taurus]

I think its the amount of shares that bugs them...if i offered 30000 it would have gone through

[asylum]

Hi Taurus oh i see you only wanted to sell couple of shares ahhhhhhh thats a different story altogether. Nice Try!

[ABuzz]

They are under cautionary, so none of the directors can trade. It is interesting that seeing as it is at its lowest level ever, still some traders are selling (and yes I am aware that it could be other "insiders" close to the company like aunties, uncles, second cousins twice removed etc). But still, why not sit tight till the AGM?

[Taurus]

Come on Abuzz..you have more that a mil..give the poor guy his 30000 shares at 15c...hehehe and then some sparks can fly!!!

[ABuzz]

No, not 30 000. I own 1/700th of the company already, I wouldn't want to spoil my chances at becoming a director. Simon seems very stressed and serious about this, so I am sure they are watching me closely.

[Chrzaszcz]

Simon, please explain. If it is correct that price manipulation is e.g. "One way people can deflate the price of a security is by placing hundreds of small orders at a significantly lower price than the one at which it has been trading.", then how come when YBA was trading at 43 cents then someone could make over 400 trades at 32 cents and that was legal? What was the difference?

[SimonPB]

Chrzaszcz, I can't really comment, while I remember seeing it I didn't really take a hard look. What I can assure you is that it wasn't one of our clients.

[TTrader]

Simon et al, We know that manipulation of a share price is not allowed/illegal. However to determine if manipulation is really taking place one has to have insight into the 'intent' of the trade i.e. is this a genuine sale trade or is the intent of the seller to misrepresent the reality and minipulate the market to a lower level. I recall at one stage when I had to pay an unexpected tax bill I had to sell some of my portfolio at 'best' to buyers who were bidding at a substantial discount to the market price. That was life, I had to deal with it. The real question is, how does someone like a broker judge if my intent is a honourable one or not? I would appreciate your comment. Regards TTrader.

[ABuzz]

Hi TT, I think for your situation it would be different, cos even though you were selling at a loss, you were probably selling a reasonable number of shares. I think what Simon is on about is when it is a small number of shares. You needed to liquidate to get to you cash, a small trade would have little or no financial value to either the buyer or the seller. But it is quite odd, cos they allowed some character to buy 1 of my STO shares a while back. On the same day there were a whole lot of single shares of a myriad of companies which traded.

[SimonPB]

TTrader, you are correct about the intent issue. Sometimes it is deadly easy to spot, other times a bit murky. Ideally our brokers pick it up and we make a call on the intent, failing which the JSE conducts real time surveillance.

[Taurus]

So Simon if i did sell 30000 yeasterday the sale would have gone through?

[Taurus]

Simon still waiting for your promised call aboutmy Price streamer that never works correctly???

[TTrader]

Makes sense, its combination of factors that will give credence to the sellers intent. Thanks.

[SimonPB]

Taurus, unable to find an answer so far.

[TTrader]

Thanks for the clarity. TT

[Taurus]

Sorry guys..this sudden drop was not my fault...hehehe

[john_1]

A lesson in how to make friends and influence people.