Like your work but would argue that with the high frequency computer trades, the bid ask queues are meaningless. They do not place their orders they just intervene at the speed of light when the circumstance presents itself!
I also argue that they buy sell to themselves (on behalf of "different" clients) to manipulate price. I have repeatedly sought ASIC help in investigating this but no joy with that dysfunctional organisation
BLT Price at posting:
96.5¢ Sentiment: Hold Disclosure: Held
