What you were seeing I think was what is called "dark equity" at work. It works like this:
If the market is say $1.415 / $1.425 then dark equity will sit "in the dark" at $1.42. If anyone moves their offer down to $1.42 it will instantly be snapped up and the market does not appear to change except momentarily. Only the big players can do this because their response to the $1.42 offer will be a $1.42 bid for the offered quantity within milliseconds.
Blatant SP manipulation, page-100
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Last
10.0¢ |
Change
-0.005(4.76%) |
Mkt cap ! $41.23M | |||
| Open | High | Low | Value | Volume |
| 10.0¢ | 10.5¢ | 10.0¢ | $5.49K | 54.28K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 35867 | 10.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 10.5¢ | 131500 | 4 |
View Market Depth
| Last trade - 14.59pm 12/07/2024 (20 minute delay) ? |
| SPL (ASX) Chart |