Has anyone got an idea about the guy who sits at market and keeps buying in small odd numbered packages....3554, 5023, 2901 etc...
This has happened upto 40 - 50 times a day during some trading sessions.
It only occurs when the gap between buy and sell is 0.5c and a new bid appears roughly every 5 minutes. The bids are real because they have been sold into.
If someone places a bid at the level above then our guy simply raises all of his little bids to the next level.
Once he reaches about 10 bids he then starts transferring bids across and taking little bites out of the sell side.....but only if the spread is 0.5c.
Imagine the brokerage in buying lots of little packages like that....!!!!
Which leads me to think it must actually be a broker doing the buying with some sort of program trading set up...
Anyone else noticed this??...anyone else have an idea what's going on??....In more than 20 years of trading I have never seen something as odd as this..
EB
ZLD Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
