I know its fake for three reasons. First, no one in their right mind is investing in ABI at present (1mill is not a trade but an investment). Second, there have been a number of fake 1 mill and 500k buy orders in ABI's market depth over the last few months, so clearly a number of brokers are using the strategy to allow their clients to exit at a certain price (the fake buy orders typically disappear just after a large sell order is executed). Third, if this 1 mill buyer were genuine, he would wait for the SP to fall to his desired entry level (12.5c) and then break the order into 250k parcels so as not to push the SP above his desired entry level. By placing a 1mill order 4 stops below the trading price, the fake buyer wants his order to be seen by gullible punters, but does not want his order to be in any immediate danger of actually going through.
ABI Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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