Re: Why Market Reacting Negatively
in response to
by
posted on
May 10, 2008 07:47PM
Connacher is a growing exploration, development and production company with a focus on producing bitumen and expanding its in-situ oil sands projects located near Fort McMurray, Alberta
Though I consider CLL a dangerous stock to place a stop loss on and therefor do not, likely many do.
The real shame of the the manipulated raids we saw yesterday is that many shareholders who had stop losses triggered literally had their shares stolen from them. Further, by the fact everything was over and done with in a few minutes, the only way those whom had lost their shares have no option but to buy back at a likely higher price if they wish to retain a position in Connacher. Following an initial advance of six cents, CLL then sold off thirty cents. All in a ccouple of minutes. Such obviously requires collusion between the floor trader and the specialist. Many whom had their holdings victimized in such fashion, were likely at work and will not even be able to replace their shares, other than at a significantly higher cost on Monday.
The raid took place on both CLL and PDP. And both in the same time frame. Is it any wonder that the TSX is known as "The Exchange of the wild, wild west"? Permittance of such practices, which obviously have to involve the floor trader as well as the specialist, give the TSX a rancorous odor and reflect badly on the TSX as a market of values and ethics.
It is well past time that the investors of Canada demand reform in the regulatory practices and standards of permissable conduct on their exchanges.
If they do not, THEN THEY HAVE ONLY THEMSELVES TO BLAME WHEN IT IS THEY WHO GET RIPPED OFF AND HAVE THEIR PROPERTY STOLEN!
Brian