Has anyone else been checking out what happens with EGO buy/sell orders each morning? Each morning, the orders to buy at 0.6c and sell at 0.5c (the overlap orders) go haywire in the last few seconds before trading commences.
If you haven't seen it, I recommend you check it out. Its a fast paced game for the bots, because if the quantity of buy orders at 0.6c is one less than the sell orders at 0.5c, the transactions go through at 0.5c. On the other hand if there is one less sell at 0.5c, the transactions go through at 0.6c.
In the end, the fastest bots win and effectively jump the queue as if they want to buy at 0.5c, they just need to make the last second adjustment to buy (at 0.6c) one less than those on offer for sale at 0.5c, and the transaction goes through at 0.5c. All the mum and dads (including myself) waiting patiently in the queue to buy shares at 0.5c end up gaining nothing from the opening market sales - the only way we advance in the queue is from sales at current market rate put in between open and close of market, which are currently very few.
Think about if you had the fastest bot and you could make 20% every two days by buying one morning at 0.5c and selling the next at 0.6c. The volume isn't huge, but still not a bad gig!
EGO Price at posting:
0.5¢ Sentiment: Hold Disclosure: Held
