PET 0.00% 2.5¢ phoslock environmental technologies limited

Just to put some perspective on those figures;I can't go back...

  1. 425 Posts.
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    Just to put some perspective on those figures;

    I can't go back and look at the quotes and depth at the time that you took those figures but it will be a similar story to the quotes and depth at close, which is the data I have available right now.

    160 Buyers - 1,481,950
    v.s
    57 Sellers - 990,085

    I don't know what other stocks are like, and I don't have the time nor the inclination to find out, but there are almost always large amounts of erroneous bids and asks on PET. If you take away the quotes that are 20c or more away from the current price you see quite a different (and more accurate) story.

    73 Buyers - 477055
    v.s
    46 Sellers - 701,139

    1M bids under $1.26, of which 400,000 are under $1.00 does not offer support or buying pressure to PET SP. Many of them are false bids that disappear if there is any price action that approaches them. I have seen the same kind of thing on the sell side. Even if they are real bids or offers they do not have a bearing on the price. When you have the time, watch the price action throughout the day. The real price pressure generally comes from bids and asks that are not seen on the quotes depth table and the bids and asks that are far from the current price just sit there. Take a look at a trading day when 5M+ shares change hands. The supposed quantity of bids and asks will be the same at the end of the day as they were at the start. If they are not genuine bids they are not relevant. If they are genuine bids but more than 10c from the current price they are barely relevant, the exception being a legitimate 500K or more that is close enough to matter and does not vanish into thin air.

    Most of this is a sad effort to exert pressure and, sadly, some people probably are swayed by it.
 
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