Just noticed your posting, Eric, on the left-hand side of the page while reading the Bank of Ireland site. Couldn't agree more. At least, if shorting's going to take place then the correct place for it is through Ladbrokes or Paddy Powers, definitely not through respected stockbrokers and the Stock Exchange itself. I've read somewhere that shorting performs the same role in the financial world as cheetahs and hyenas do on the Serengeti in seeking out the weak and culling it, in this case dodgy firms (remember Erinaceous?). Perhaps it does, but in doing so it leaves a market even more at the mercy of the winds that blow. It's a mark of how shorting is viewed by various regulators that, when the proverbial really does hit the fan as in 2008 then the first thing to be held in check is shorting because of the chaos that it can start.
shorting also drives down the price,jim chanos a well known shorter,shorted fortescue metals on the asx to the point where it nearly went bust,but the comp had financial problems at the time,it just the shorting drove it lower..... the trouble is some of the big institutions are to powerfull,so when they say what they are shorting,everyone else follows suit,so you have an even bigger affect than normal...... not gud for us or market confidence,but they make loads money out of it,it stinks really,they oughta cap the ammount of money they can use,say a percentage of a m.cap so they cant cause a crash like yesterday?..... coliwobbles????you there............
absolutely shocking, would you believe it. never though it would reach anywhere near current level. who in there rite mind would be selling now. if you need the money you need the money, fair plays, still in shock. mind you this is aim. atb gla
dont know whats happening out there,vigin tv az gone off or there's a fault with the tv stuff?... dont know how long this shorting millarky will go on for,a few weeks i guess,but its a pain in the neck.lol.
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