WHC - Whitehaven Coal

[Garpal Gumnut]

I am told that ASIC and entities close to those mentioned in the recent ongoing ICAC are after said Jonathon, for damages.

I have never wanted to be a Jonathon.

Especially now.

How nice to be a garpal and not a crustie.

gg

 

[qldfrog]

I lost some dollars yesterday due to a SL activated and am not in WHC anymore as a result.
Not what I wanted
I still believe the ASX did not do its proper governance job;
In my opinion, they should have cancelled all trades between the hoax release and the trading halt (they took their time to stop trading...) and they should definitively sue the hoaxer
If not : I have a nice way to make easy money: release some crap news SDL deal is canned for example(IT IS NOT TRUE ...YET),. buy 20 minute later, and resell at the end of the day
Pocket the profit and announce it was just a joke to demonstrate the colonialism spirit of western countries in Africa.
Governance on the share market here is a joke.

 

[basilio]

Darkly creative exercise of Jonathan Doyle to create a fake scare on Whithaven coal.

Worth noting that in the big picture one of the unspoken terrors of financial markets is the threat of losing trillions of dollars on stranded fossil fuel assets.

Global Warming isn't going away. It is caused largely by CO2 generated by the use of coal. oil, natural gas. If/when we ever get the point of realizing we have to substantially curtail the use of fossil fuels to have any chance of avoiding a climate catastrophe the collapse in value of the coal and oil industry will be many trillions of dollars.

As far as trying to take Jonathan to the cleaners for investors share losses? I guess he is worth stuff all financially. In fact he would have made sure of that (if he had some sense) before he took his action.

I think there are many, many more company directors, stock brokers, share market spivs ect who should be rigorously hunted down and forced to refund illgotten gains before this guy is chased.

http://www.guardian.co.uk/environment/2011/jul/12/fossil-fuels-coal
http://capitalinstitute.org/blog/big-choice-0

 

[Julia]

Only you, basilio, would find a reason to defend this stupidity by a twerp.

 

[Out Too Soon]

What a change, someone other than a CEO in the know duped the market. Scary that it's so easy to do, as qldfrog said "Governance on the share market here is a joke."

( I don't think Basilio is defending him, just stating the obvious facts. The real twerp here is ASX - 22minutes)

 

[basilio]

Only you, basilio, would find a reason to defend this stupidity by a twerp.

Get out of the wrong side of the bed this morning Julia? Bit of bile on the liver ? Feeling a bit peevish ?

I wasn't defending Jonathan actions. I was noting that it was a darkly effective way of highlighting what is likely to be a far more profound reassessment of the value of coal and oil shares in the coming years. Did you consider checking up the references I offered ?

As to how quickly and how high we should string him up for his actions ? I repeat there a thousand more serious deliberate scams happening in the share market. Equity trust, insider trading , rorts with insurance. You would be aware more than most of the dishonesty practiced by the legal players in our markets.

What I particularly notice with all these incidents is how long it takes(if ever) to take action and the lettuce leaf slap on the wrist that is the consequence.

 

[basilio]

On reflection if I was ASIC/Whithaven I would not be too quick to take Jonathan Doyle to court over his actions.

A court case would offer an excellent opportunity to highlight the economic risks posed by continued coal mining at a time when climate change questions are intensifying. It might be okay on ASF to summarily dismiss the 99% of the scientific community that says we have a very serious problem with regard to global warming. I don't believe it will work as well in a court with the focus on realty based evidence.

We'll see.

 

[drsmith]

It wouldn't be coal mining that would be on trial.

 

[basilio]

It wouldn't be coal mining that would be on trial.

Well not coal mining per se.

I imagine the argument will concern the environmental effects of burning coal and why these should therefore stop any further production. Maybe..

 

[Garpal Gumnut]

I lost some dollars yesterday due to a SL activated and am not in WHC anymore as a result.
Not what I wanted
I still believe the ASX did not do its proper governance job;
In my opinion, they should have cancelled all trades between the hoax release and the trading halt (they took their time to stop trading...) and they should definitively sue the hoaxer
If not : I have a nice way to make easy money: release some crap news SDL deal is canned for example(IT IS NOT TRUE ...YET),. buy 20 minute later, and resell at the end of the day
Pocket the profit and announce it was just a joke to demonstrate the colonialism spirit of western countries in Africa.
Governance on the share market here is a joke.

Sorry to hear of your loss frog.

gg

 

[drsmith]

Well not coal mining per se.

I imagine the argument will concern the environmental effects of burning coal and why these should therefore stop any further production. Maybe..

Coal mining (and any other legitimate business activity for that matter) and market manipulation are two completely different issues.

Someone's negative view on one does not justify activity on the other.

How do you think the global economy and your own lifestyle would fare is this sort of corporate terrorism was allowed to flourish ?

 

[Smurf1976]

Suppose that I put out a press release tomorrow stating that the Australian Government has decided to scrap support for large scale renewable energy (eg wind farms).

Meanwhile I have a buy order at well below the market price on a relevant stock which is triggered by a falling share price.

Then people work out that my press release is a hoax and the share price bounces back up, triggering my sell order at a price considerably higher.

The possibilities here are endless and cover everything from ice cream to banking. What if I put out a release saying that "A major Australian bank has lost $5 billion overnight on currency trades" or something like that?

As I said, endless possibilities here and coal mining is NOT the issue.

 

[Garpal Gumnut]

Looking at the chart, I could easily have a short term target of $4.00 for this stock.

gg

 

[pixel]

Well not coal mining per se.

I imagine the argument will concern the environmental effects of burning coal and why these should therefore stop any further production. Maybe..

Whilst I appreciate your voicing your opinion, basilio, and won't think any lesser of you for it, I cannot agree with the premise that it should be justified to cause over $300M damage just to make a point about something close to one's heart. To pull a stunt like this, hoping to get a day in court and the opportunity to increased publicity is gambling with other people's money in the hope to gain personal profit from it.

IMHO, this guy is guilty of eco terrorism in a far bigger way than the miners he accuses. Do you have any idea of the obligations a mining company has to comply with in order to mitigate the impact and rehabilitate at the end of a mine's life? Yes, he should get his day in court - and be made to work for a living to pay back some of the damage he caused. But as it's just as likely that he is living off our money anyway, the alternative 5 years prison would do.

But I'm afraid, all he'll get is a slap on the wrist, after which he'll be able to continue to live in comfort that's supported by a community most of whose members are willing to work hard to avoid a slide back into a pre-industrial level that won't support one tenth of the current world population.

The Green idealists may get away with their "no mining, no logging, only eco-tourism" in Tasmania; but if you export that to the mainland and around the globe, there won't be any tourists left because no mining means no manufacturing means no transport means no jobs means no income to spend on eco-tourism in Tasmania. But the fluffheads don't see that.

 

[skyQuake]

Suppose that I put out a press release tomorrow stating that the Australian Government has decided to scrap support for large scale renewable energy (eg wind farms).

Meanwhile I have a buy order at well below the market price on a relevant stock which is triggered by a falling share price.

Then people work out that my press release is a hoax and the share price bounces back up, triggering my sell order at a price considerably higher.

The possibilities here are endless and cover everything from ice cream to banking. What if I put out a release saying that "A major Australian bank has lost $5 billion overnight on currency trades" or something like that?

As I said, endless possibilities here and coal mining is NOT the issue.

+1

It's fraud pure and simple. Methinks there's jail time here.

This is just 1 small step to financial terrorism.

Shame on the ASX for not busting those trades though

 

[Garpal Gumnut]

+1

It's fraud pure and simple. Methinks there's jail time here.

This is just 1 small step to financial terrorism.

Shame on the ASX for not busting those trades though

Agree.

We all agree the ASX, ASIC, Jonathon Moylan ( his mother was obviously not a bogan, she must be dreadfully disappointed in how he turned out) and the AFR are a pack of incompetent wankers.

Can we get back on to WHC as a stock.

I posted an elegant chart above.

Any comments on $4.00 as a target?

gg

 

[skyQuake]

Higher highs and higher lows!

$5 and everyone wins right?!

 

[pixel]

Can we get back on to WHC as a stock.

I posted an elegant chart above.

Any comments on $4.00 as a target?

gg

Assuming they can concentrate on mining again, I can see no reason why, on the back of Chinese demand, they should have to remain below $5 for much longer. For the third time since my weekly chart showed the strength indicators, the MACD momentum has become positive; but this time it's after a Bullish Divergence. That gives me some hope - maybe "third time lucky"?

 

[willstor]

Asx took far too long to act. Media should check their sources. Nobody should have a stop loss in the range the stock moved. Anyone who purchased at the lower price should be investigated just in case.

 

[qldfrog]

Asx took far too long to act. Media should check their sources. Nobody should have a stop loss in the range the stock moved. Anyone who purchased at the lower price should be investigated just in case.

stock went from 3.63 the previous days to 3.21 a delta of 42 c out of 3.63 -> a bit above 11%
If your SL are always bigger than that, you must have lost a bucket during the GFC and like living dangerously!!!!
Agree for the rest