A day in the life of Marathon Share Trades – 8 February 2007 Marathon Resources is the company behind the proposed uranium mine in the Arkaroola Wilderness Sanctuary in the Northern Flinders Ranges of South Australia. It is a company listed on the Australian Stock Exchange.
As may be seen in the graph above, as price goes down, volume goes up.The day starts low, compared with the previous evening, but small volumes are traded for higher prices as the day progresses. This give an apparent boost to trading prices, but it is based on a very small volume. ASX graphs are based on closing prices. This makes them look good.
When the market opens next day, the low price looks like a bargain compared with the previous close, and a large parcel is shifted at the lower price. Then the cycle begins again. Day after day. Someone is making good money dropping their shares in the morning, pumping the price in the afternoon.
All this is done with a very small percentage of the shares.
About 00.1% of shares, with the “biggest” deal representing just 00.02%; and the smallest parcel of 59 shares represents no more than $97:35.
Several conclusions:
- It is easy to manipulate the apparent share price using small parcels of shares.
- Someone knows how to dump for a profit using the system.
Makes you glad you are not a capitalist dealing with this sort of market manipulation.
1 comment:
The ASX and ASIC are now complicit as the information relating to misleading discloures has been forwarded to them. This mine will never go ahead but the SA and federal government are allowing wilderness areas to be vandalised in the name of this game. Southern Uranium has many plans on the board as well,,,see last quarter statement...CITIC and Talbot...surprise surprise underwriting this virus as well!
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