optimism, page-26

I was watching the closing auction like a hawk... this is what happened.

VPG was solidly bid at 8c, with ~2.287m shares as at 4pm.

As the auction commenced, offer volumes increased at sub 8c, matched by some bids appearing at 8.1c.

As the depth/volume of stock offered below 8c changed during the auction period (4pm - 4:10pm), the bid side was being managed by a computer program such that no matter how much stock was offered below 8c, the amount of stock being bid at 8.1c was 1 share less.
Therefore, if 894,823 shares were being offered below 8c (i.e. to cause the closing auction to match into the 8c bids), there was a total of 894,822 shares bid at 8.1c.

What this means is that because there were more shares offered at 8c than bid at 8.1c, the closing price in the auction was 8c, and the bidders at 8.1c ended up getting 894,822 shares at 8c, not 8.1c.

The offer volume/price changed many times during the auction process, but the bid side reaction was always instant, and indicative of a bot "accumulating" all the offered stock at the lowest price.

As long as no other size buyers entered this afternoon, VPG was always going to close at 8c today... the buyer had a computer managing that.

The only negative here is that the stock closed at 8c, not 8.1c.

The positive here is that there are accumulation tactics being implemented here by patient buyers, who are accumulating on the back foot without pushing the stock up.

There is interest here.