Well Lucretious, that was me who started the bounce.
I bought some at close yesterday for 4.7c. I looked at around 2:45pm today and saw I could buy 246000 odd more at 4.3c. I decided to put in another order for 300000.
Trust me: A cut & paste from a Comsec email!
CommSec wish to confirm that your order was received at 2:49 PM (Sydney Time) on Tuesday, 25 July 2023
You have asked us to buy 300,000 shares in BLG at a price no higher than $0.043.
The sales according to Comsec are:
| 2:53:03 PM | 0.046 | 24,200 | 1,113.200 | CXA |
|
|---|
| 2:53:03 PM | 0.045 | 23,000 | 1,035.000 | CXA |
|
| 2:49:44 PM | 0.043 | 35,493 | 1,526.199 | ASX |
|
| 2:49:44 PM | 0.043 | 165,000 | 7,095.000 | ASX |
|
| 2:49:44 PM | 0.043 | 19,600 | 842.800 | CXA |
|
| 2:49:44 PM | 0.043 | 26,600 | 1,143.800 | CXA |
|
| 2:49:44 PM | 0.043 | 310 | 13.330 | CXA |
|
| 2:20:44 PM | 0.043 | 29,016 | 1,247.688 | ASX |
|
There hadn't been a sale since 2:20:44pm. What is the likelihood that a trade comes in at the same time as mine! (Me thinks zero).
I only got 46510 shares. I think I might have a talk to Comsec about their best execution policy. I might have to change platforms. It looks like they put my trade on the CXA and someone got to buy the remaining shares on the ASX.
There is a lot of fun & games being played trading BLG of late. Just have a look at all those 23000 buy/sell trades that go through. I think if all these bogus trades were removed, you would probably see a fairly illiquid stock. I wouldn't mind knowing who provides BLG shares for short selling. Before and after the trading day, you can see how many buy/sell orders are removed.
So the original 246000 odd shares were split into approximately 11 orders (from memory) and across two exchanges. Anyone who wished to sell would have got 4.2c or lower. A genuine buyer would have to had paid 4.5c or more.
I guess that's why we mug punters lose heart.
(20min delay)