The spoof sales (well outside the realistically executable range) are likely being placed by sophisticated traders looking to short (spoof the sell side at stupid cents x 750,000 units) or others who want the price to rise so they can swing trade (spoof buys at 0.15c and other stupid values).
Classic market maniuplation that the average investor can't do. It's actually quite dirty that sophisticated traders can sh** all over retail investors. It really shows that the ASX is geared against the average investor/speculator. Need to vote in some politicians that will force reform that doesn't favour one investor over the other. That and ban shorting. Should see what happened to the Korean markets when shorting was banned. Completely killed all the rubbish Goldman Sachs publishes through various mediums about 'shorting is a great way to weed out bad actors, and assists in natural price discovery'. Turns out it's absolute BS published by the same 4 sources. The facts are right there in front of us all, check what happened to the KOSPI index when shorting was banned, and compare it with the S&P500 during the same time period. Facts are facts, quantifiable, causative.
Re Widgie. The news is awesome, and that hit is incredible, and likely linked to more solid assets waiting to be found. We'll be happier with some offtake agreements and some more concrete stuff, since the market is sick of seeing 'exploration companies' making big finds, but just diluting the hell out of investors and literally funding themselves by share dilution.
The entire market is cactus. This is a bear market from hell, with even strong players getting hammered. Most people have had enough of losing money, so they're moving into high interest (relatively) savings accounts. It's hard to argue, when everything is being vacuumed up by shorters. Check what Global Street have done to CXO - gutted it completely and cashing in bigtime on the dip. The game is rigged, and it's time to vote in politicians who will change things. Not just the standard drop-kicks who do nothing.
It's such a coincidence that Josh Frydenberg decided NOT to endorse ban shorting during COVID on the ASX (whilst Australians had their superannuation pillaged by hedge funds) then suddenly he was awarded a senior position with Goldman Sachs. How dumb is Australia?
WIN Price at posting:
23.5¢ Sentiment: Buy Disclosure: Held
