Hi SPMSome people seem to believe that putting sells or buys a...

Hi SPM

Some people seem to believe that putting sells or buys a very long way from the market price will somehow manipulate the SP in the direction that they desire. They believe that they can imply massive support or resistance and sway the market. These are not real offers or bids (for the most part) and have been a semi permanent part of the PET/PHK landscape for many years. To prove that they are mostly non genuine, just watch what happens to them if the SP gets too close.

Sadly I suspect (though don't tell anybody) that there are some who give these "depth" figures credence. I know because I have seen the comments here on HC. For as long as these rampers and down rampers believe that they can have an influence, I suppose they will continue to behave in this way. I for one show them no mind, nor do I give their ploys much credibility. I can only hope that there are enough people in the market, with enough nous, to realise that 2M shares bid or offered 30% higher or lower than the current SP have no relevance whatsoever. For the market to run efficiently you don't need everyone to understand or know everything. You just need most people to have a reasonable clue. That's what I tell myself anyway, I sleep better that way.

In short, this is not going away. Try not to look or at least look a bit closer and discredit depth that is too deep to matter.