However what regulator allows these bunch of sheisters to wipe sometimes up to 50% off a share price following an announcement of whatever form of bad news WITHOUT A SHARE BEING TRADED !!!
Marvellous for us traders unless of course you happened to have several thousand pounds of your hard earned cash tied up in one of their victims. ie Psion, Matalan, SSL, Harrier etc etc to name but a few.
Market Making is acceptable, even some manipulating and it is our job to be sharp enough to survive in this market. But the average shareholder must be given the opportunity to dispose of his shares in active market where prices are adjusted according to the volume of shares trade.
Gap up Gap down is acceptable but should be regulated to no more than 10% of the share value at market open. MM's will argue that they are only protecting themselves against a mass sell-off in the case of a profit warning - Nonsense!!
Share trading is a risky business and we are constantly made aware that shares can go down as well as up but I repeat not by 35% or more without a share being traded - you bastards!!!