"I still don't quite understand why they bother with the pip down but whatever."
My theory as to why they engineer the one pip down at closing auction?
1. Always making it look worse than what it really is. A red down day, however not a true reflection of
the day's action! So, suppressing the sp and allowing the engineers of this distortion to accumulate at
lower levels the following day.
2. LSE looks at the closing price and also sees a RED down day, therefore influencing their price action.
ASX Today, page-7508
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Change
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Mkt cap ! $57.86M | |||
| Open | High | Low | Value | Volume |
| 0.3¢ | 0.3¢ | 0.2¢ | $25.42K | 10.10M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 124 | 136078703 | 0.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.3¢ | 575698953 | 234 |
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| 88E (ASX) Chart |