Why on earth does the ASX allow any form of "automated" system whose only purpose is to achieve volume goals in a market that might otherwise not support such "goals"...be that to buy, or indeed sell.
There is no other way this can be described...period...other than "manipulation" of the trading patterns and from what I understand, this is illegal?
If they are net buying...you will see a constant trickle of smaller sellers hit the market from time to time...or indeed, suddenly load the sell side behind any "new" seller...in other words, sellers other than them!
Other than “market makers” in derivatives, whose prices are determined by a formula directly related to the real-time price of the head stock...I think all forms of "automated" trading platforms should be outlawed!
How many people have sold (or bought) stock over the years as a direct result of these insidious systems, due to the false impressions and indeed, false triggers they give to market participants from time to time?
Cheers!
auto bot at work today...
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