I was surprised to see the share price going into a downward spiral yesterday. Checking the course of sales showed that very small parcels of shares, 150 and less, were traded every few minuted with a larger parcel traded every now and then. These small parcels do not appear as individual sales on the buy sell board, but as a slow rise on the sales volume that is updated every 20 mins or so.
This smacks of manipulation of the share price by several buyers to lower the share price and flush out holders that see the price dropping and decide to get out.
Someone recently put this down to bot trading. Whatever it is, it seems to be a dodgy practice.
Is there any way to find out who does these micro trades? I would be very interested to see who and how many traders were involved in this practice. If the shares are being sold between a small group of traders this should be against the law.
Given that the ASX are quick to pick up any anomalous trading resulting in a price rise, do they do the opposite?
All very odd.
BLG Price at posting:
31.5¢ Sentiment: Buy Disclosure: Held
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