Thursday, April 23, 2015
I think I'll just repost stuff from IKN from now on
Bronte Capital - on Narinder Singh Sarao being small fry. Via IKN.
I'd just like to point out that anyone who's ever even watched the L2 of a junior miner knows for a fact that we're being spoofed constantly.
I've personally made a lot of (small-fry intraday) trade money on this with a few stocks. IIRC, Mag Silver used to be like this; DPM still is like this today.
I met a guy at PDAC a few years ago who was a pro-level trader (i.e. not some dick like me with a discount broker account and ooh wow L2 access) who could explain the details of how it was done. And he was just some schmo, so it's damn well common knowledge.
Basically any junior that moves >5% in a day is being pushed around by market manipulators, and any exploreco whose ask book dries up and walks away from you the minute you place a limit buy order is being pushed around by market manipulators.
The OSC and BCSC regularly read my blog, so I'm sure absolutely fuck-all will ever be done about this.