HOLLYWOOD STOCK EXCHANGE
THE ENTERTAINMENT MARKET
THE ENTERTAINMENT MARKET
Explained what's wrong in my post, simple enough to correct, Admin's choice, explaining robust system again
Have written in the past that the only fair system (& mirroring actual stock markets) is one where either there's no price movement pre-IPO or if grey market premiums are to be factored in (ie people on avg willing to buy/sell at a certain price higher/lower than IPO price) then it should work equally both ways ie
1 - ONLY if the volume of preIPO Buys exceeds IPO qty does the price start moving Above IPO price pre-IPO time (& it shouldn't go below it unless people switching their Buy orders to Sell takes preIPO volume Below IPO qty) AND THEN
2 - ONLY if the volume of preIPO Sells exceeds IPO qty (no proviso for this currently in HSX) does the price start moving Below IPO price pre-IPO time (happens with many lower price IPOs but price doesn't go down currently when this occurs so latter part of point regarding price moving in opposite direction only when Sell volume falls lower subsequently to IPO volume is not relevant as on date)
Allowing price movement in EITHER direction (vs only upward) preIPO time once IPO volume has been fully subscribed is a loophole in the system which cheats those who subscribed (inadvertently am sure, thus this can/should be set right). It also allows anyone who may want to game the system to do so. Today the price went 3c below IPO price ~20min pre-IPO time though the Buys were ~30.45m (IPO vol 30m) & the Sells ~1.6m (the last 400k-500k no doubt post 30m+ buy volume which opened the price for movement, causing the fall). I saved a screenshot so have the numbers but thats easily verifiable by anyone with access to system logs/info (from the part also used to build the graphs for individual stock pages).
The lack of robustness of the system has been laid threadbare today Apr 18, 23:22
** This post has been removed by the forum moderator! ** Apr 19, 08:39
No personal attacks. {nm} Apr 19, 11:07
maybe I'm playing the game wrong... Apr 19, 06:17
There are different ways to play the game... Apr 19, 07:26
That's how any market works, movements determined by trading activity. Apr 19, 07:13
Explained what's wrong in my post, simple enough to correct, Admin's choice, explaining robust system again Apr 19, 08:34
Coordinated trading (market manipulation), for starters Apr 19, 09:19
Please stop throwing unfounded accusation. Playing the reset is not cheating. {nm} Apr 19, 11:05