I understand that the ASX has allowed stupid intermediate bid increments for big players for a year or so and it's all over the market. I know it's so they can play with their bots and fleece us even more but does anyone know how the system works?
At the moment on DTE we've got a million buy orders at 11c and a tiny number of sells at 11.5 and for the last hour the only trades that have gone through are at 11.3c.
There are no shares showing for sale @ 11.3 and when one of these trades goes off for say 29 shares @ 11.3c, the number of buy orders @ 11c declines by 29.
It looks like a bot trader changes their 11c order to 11.3c but whose shares are they buying?
DTE Price at posting:
11.2¢ Sentiment: None Disclosure: Held
