Looking a Springtree's buying over the last months it seems to me the specified time period for the three day VWAP is whenever they choose. According to the details of agreement doc 3-5-11 the "Convertible Security will be convertible by Springtree during its term using the same conversion price mechanism as set out above for the monthly share purchases". Yet though both notifications for the convertible notes to shares in June and the monthly purchase in July came out about the same time after the month end (5th day of July for the converted note and 4th day of August the for the monthly buy) the actual dates as we know for the 3 day VWAP coincided with the lows of each month, for June around the 21st, and for July around the 29th. So I suspect as I said Springtree could be at liberty to just buy at a 10% discount on the low of the month when ever it is. This month's deal might reveal more.
Whether they are holding the SP down while they accumulate over a number of months is hard to say but clearly it could be in their interest to buy as much as they can at low prices. Perhaps the significant shareholder notice when they have bought enough will tell if they are holding but if not they could just be bailing like many in this market at the moment. The other factor I was wondering is that the market may be none too impressed with the sweet deal Springtree has, so the market itself maybe seeking to square up on getting that same deal on the SP in time.
On the SP, IMHO DYE is still in a down trend with lower highs on the 31/3, 11/7 and 15/8 and lower lows 21/6 and 9/8 so far, but of course there is potential for a breakout here.
I was surprised what the ASX site on algothithmic trading had to say as I thought you needed to pay for expensive licences and big accounts to go algo, but that was not clear at all. Very interestingly the ASX states they have no minimum share purchase limit, but that it is set by some brokers typically at $500. So it would seem yes any computer whiz can set and forget.
