yep, now there's a bloody stupid situation which the ASX allows to occur.
at this moment, there have been 221 trades for a total of 6381 shares traded.
so thats an average of 28.9 shares per trade!
thats only an average parcel of $17.91 per trade!
and thats an average - and that is over a total number of trades of 221 !
yet you and I must trade have an order of minimum of $500.
what broker would allow you or I to trade in parcels of 1 share - or parcels of 62c ?
there are well and truly an unequal market in play.
its the institutions who have computerised trading, and access to it VS the retail, family, day traders etc.
these trades cannot do anything else BUT distort the market imho. Because they are not genuine purchases of shares, but a systematic scheme to achieve a particular price for MPO shares.
It HAS to be that scenario, because why else would someone bother to trade parcels of 1 share of 62c at a time?
the fact that it is computerised trading does not alter the INTENT of the trader - it simply makes the physical trading possible, because it does not require a person to sit there and buy 1 share at a time.
well, thats my view of the situation - its technology usurping the intent of the market, which intent I thought was to have an orderly market, a level playing field, and devoid of manipulation and schemes.
clearly thats changed with the advance of technology and new trading platforms.
cheers
PS - maybe the term "trading platform" is supposed to mean platforms where the platform upon which the institutional/hedge funds etc trade, is closer to the action and thus enjoy priveleges which the retail s/h don't enjoy - because the platform upon which you and I operate, is way down the bottom of the ladder, and far away from the action?
MPO Price at posting:
62.0¢ Sentiment: None Disclosure: Held