I guess this is what you would call every day/short trader's wet dream.
I would call it a trade the traders event. With all the good little trading munchkins out there following their trading heroes they all would have had their stop loses set let's say at 10 percent. The bad report triggered a lot of stop loses but the volume wasn't enough at the price and down she went untill all the stops were taken out and we now see support from where the shorts have taken their profits.
The question is was it serendipitous or was it engineered?
My bet is on the later.
Yep the company is a bit of a joke at the moment but when the ASX, and what it allows to occur, is even a bigger joke then I guess we could say we are all mugs in a mugs game.
Am I pissed you bet ya.
This price action needs to be investigated.
Cheers
BW
I guess this is what you would call every day/short trader's wet...
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Last
$1.58 |
Change
0.020(1.29%) |
Mkt cap ! $3.593B | |||
| Open | High | Low | Value | Volume |
| $1.58 | $1.59 | $1.56 | $7.607M | 4.822M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 33174 | $1.58 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.58 | 26329 | 2 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$1.58 |
Change
0.020 ( 1.08 %) |
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| Open | High | Low | Volume | ||
| $1.57 | $1.59 | $1.56 | 1700115 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| BPT (ASX) Chart |