Absolutely disgraceful manipulation going on with SMM this morning, using trade-bots and algorithmic trading. Whoever is doing it is either shorting it and manipulating the price down, or driving the price down so that they can buy up once it has got as low as they can get it.
Look at the course of sales - an amazing number of tiny parcels that you nor I would be allowed to trade, and on which we'd have to pay brokerage.
Yesterday, it was PDN, CDH, and MRC and somebody tracked down that it was Lehman Bros doing those. Maybe they're at it today with SMM?
Last week, it was Deutsche Bank doing it with PDN.
The whole practice of algorithmic trading should be BANNED!!
SMM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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