We need to get rid of the bot!
Every day mirrors the last...In the first hour of trade we see the SP rise a pip or two. Then, as we get to the hour mark the bot starts up selling into the buy side triggering selling by retail investors (most likely). As soon as the buy line is exhausted the bot is there selling into the next line thereby triggering more sells by retail holders. As a typical example, look through today's trades. In particular the sells at 5c (3:46pm) followed by bot selling into the 4.9c which, within a few minutes, triggered more larger sells at 4.9c.
This has been the norm on IAM for months!
PC took this (bot action) up with the ASX a couple of months back and they put it back in his court to provide "evidence of correlation between bot activity and otherwise unexplained material price movements" (gotta love the proactiveness of the ASX!)
SURELY, in the IAM HC World there is someone with the resources, access to broker data, etc to be able to 'prove' the above evidence??? I'm sure if something was formulated PC would present it to the ASX and we could get rid of the bot and get back to normal trading.
IMO(/conspiracy theory), this is one, but most likely two or three, brokers working together. Perhaps bought late today for 4.9c and will sell in morning for 5.1-5.2c (for example). Rinse and repeat.
IAM chart discussion only, page-1535
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Last
2.0¢ |
Change
-0.001(4.76%) |
Mkt cap ! $11.43M |
Open | High | Low | Value | Volume |
2.2¢ | 2.2¢ | 2.0¢ | $4.795K | 236.7K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 584892 | 2.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
2.2¢ | 408279 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 584892 | 0.020 |
2 | 250000 | 0.019 |
3 | 1434231 | 0.018 |
1 | 1000000 | 0.017 |
1 | 1000000 | 0.016 |
Price($) | Vol. | No. |
---|---|---|
0.022 | 408279 | 2 |
0.024 | 125000 | 1 |
0.026 | 64744 | 1 |
0.028 | 483161 | 1 |
0.030 | 523353 | 2 |
Last trade - 13.52pm 16/10/2024 (20 minute delay) ? |
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