It has occurred to me that these types of scan trades your using could be artificially set up by the likes of Vanguard, Blackrock, State street and Goldman Sachs. Pocket money for them to test out their trainee traders.
Reminds me of my misspent youth in the bookmakers ring at trotting tracks.
In one memorable race, the obviously best horse and favourite opened at 5/4. I still remember the name of the horse Manly Hanover and that was well over 50 years ago..
There was a loud and obvious bet on a 10/1 shot and the punters got onboard and chased it down to 4/1, This was followed by another obvious plunge on another horse which was also chased down. Meanwhile the odds on the favourite kept blowing out. Just before the race the entire ring was hit for the favourite at 9/2.
Manly Hanover won the race by a couple of lengths easing down.
Lesson of this story, a little bit of seed money mixed in with mug punters can make some serious money. Those very steep declines following a flash rise are them pocketing some cash. Then with just a little more seed money orchestrate the flash DCB to fool the punters in for a second time. then take the cream off the top.
Simples.
Trotting tracks in Australia stopped having bookmakers on course a long while ago.
SMN Price at posting:
47.0¢ Sentiment: Hold Disclosure: Held
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