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Interesting 10.5 algo activity

  1. 1,682 Posts.
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    I had two sell orders in the ASX queue at 10.5c this week; 100,001 at position 1 and 100,003 at position 4. There were about 400,000 shares in between at positions 2 and 3. (It's my ST trading parcel, I also have another 1 million long).

    Since I was keeping an eye on my trades, I noticed over the last three days it seemed that everytime the buys came anywhere near (or dipped into) 10.5, suddenly 10c sells (I guess algo's) would come in to stop it running into 10.5 and beyond.

    My 100,001 parcel sold on Thursday (it took all day in multiple tranches). The 100,003 is still in the queue.

    So over a collective ASX volume of about 60 million shares sold over Wed - Fri, with the SP closing on 10.5 on two out of three of these days, only about 100,000 - 200,000 shares were actually executed on ASX at 10.5c

    I was reluctant to buy into the capping stories, but it seems to me there is a lot of effort being put into controlling the share price, and stopping it running into the 10.5's and beyond; interesting.
    Last edited by Riskup: 05/03/16
 
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