"Looks like someone set up a lot of 0.1275 selling to protect the 0.13 wall." – probably not... when there's a lot of action across the spread with large queues either side the big broking houses will hold orders and cross them internally rather than drop them onto the market. It helps everybody. The buyer saves the quarter cent, the seller gains a quarter of a cent, the broker collects brokerage from both buyer and seller and the volume doesn't count against the broker's volume agreement with the ASX.
So in this situation:
The buy queue has orders for 34 million at 12.5
The sell queue has over 3 million at 13c
So the broker holds any buy orders at 13 c and sell orders at 12.5 and crosses them
RAP Price at posting:
12.8¢ Sentiment: Hold Disclosure: Held
