dummy buy bids

yesterdays selloff looks like continuing today.

as per open yesterday, the 'player' is stacking the buy side and creeping the open price up. punters are following, trying to buy the cheap shares on offer on the sell side.

apon open, 'player' takes out all the buyers in decending lines as they fill. most of the buy bids are his, some are yours. you are buying the shares he is selling to himself. you and he are also buying the shares of paniced sellers, which he is also trying to pick up. he must be getting a bigger ratio of buys from paniced sellers, than he loses to opportunist buyers.

as a takeover strategy it does 2 things. it devalues the company by dropping the sp, and he increases his position. and even if he lost more shares than he bought by playing this way, it would be negligable compared the amount of $ he has devalued the company by, which will cost him much less by doing so.

my advice is keep your bids low, he will sell down to you. dont chase the early 'high' open price. wait until he drops his bids, like he did yesterday. lets make him pay.....twice!