Eregulla Deeps, page-236

The short position as a manipulation is interesting.
Maybe it could work as follows.
Shorters force sp down from say 40c to 20c.
Assume most shorted b/n 40c to 25c.
Then the first t/o bid is low-say 25c.
Its somewhat a lowball bid.It gives the shorters an exit.
The first lowball bid is the sneaky trick to make it work for the shorters and the bidder.
The shorters sell into that-nod nod wink wink-they never knew of the coming bid.
The shorters are then making their handsome profit.
And the bidder has a pile of cheap shares.
And then the real bidding begins.
I never usually believe in manipulation of sp-you find that excuse from alot of losing punters.But STX is odd.
Might be I'm the idiot my wife tells me I am.