You're right Simon. Who cares about some nobody that's elevated by the media. I think people place far to much importance on Malema. Current politicians are far to shrewd to allow him to come back in regardless of who wins at Mangaung.
I think that there is a serious technical problem either with OST or the JSE...The small daily graph on AGL shows a completely different picture compared to the stated closing price..Unusualtransactions have occurred on STX40 as well today.
Looked to me like an institution started its auction algo system before the auction. So huge at market orders came in to many of the large cap stocks just before the auction and triggered some huge down selling.
Another good reason to have low price alerts rather than stop losses?Thankfully I wasn't at my computer when this happened. I would have freaked out if I had seen MPC for example drop from 12400 to 11400 in the blink of an eye.Surely this needs to be investigated?
It was obviously a big institution as a lot of trades took place in different shares so doubt the JSE will investigate (although I believe they should). The JSE was more than happy to reverse significantly smaller and fewer trades in GBG yesterday though so I just get the feeling the big institutions and the algos associated with them get preferential treatment being the bigger sources of the JSE's income, but that's just me ranting. Who ever did this though will have a crummy looking P&L but whether that was firm or client funds I don't know. This was a win for the humans in some ways though as who ever had bids lower down will have bought at very nice prices, but alas yes those who had stops in place wont be happy.