Just as a case in point PA let me share with you what happened to SLX trading yesterday, it certainly isn't index trading IMHO and was done for one reason only, an attempt to bring the SP down, so they can buy large parcels below the VWAP.
SLX yesterday
Out of the 111 trades today totalling $16,219 I believe there may have only been 14 possible legit trades totalling $$15988, those were the ones above 100 shares or more, the bulk of trades were for 3 shares or less, so that means that the BOT traded 97 times for a total of $231, it's a bloody farce IMHO.
I guess you could argue that if you see this happening, then it is a great indicator that someone wants to buy large parcels at a lower price, so perhaps it is a good buy? but I see it as a non level playing field, and of course the ASX won't stop it, it isn't in their interest to do so.
NRT Price at posting:
40.0¢ Sentiment: ST Buy Disclosure: Held
