Just wondering what are the general thoughts on a stop loss strategy with GGE and the pending ANN. I'd like to set mine tight, but don't trust the domino effect knocking out a bunch of stop losses in a row, and plummeting the SP even if just for a very brief period.
Last weeks ANN (a good and very positive ANN) still dropped the GGE SP IMMEDIATELY following the re-open from 20c to 18c in a super short space of time (less than 30 seconds I think), before quickly jumping back up to 21c. It happened quickly, and I was busy checking my orders and stop losses to take full note, but I got the distinct impression afterwards of possible manipulation there somehow.
Saw a similar action with OBJ quite a few months back. Dropped through 8 levels of buyers from 42c through to 35c then back up to about the same level in less than 1 minute; in fact it could have been about 40 seconds from memory - I forget exactly - triggering stop losses en mass down the ladder and thus sending the SP to the next lower price to then trigger that level of stops.
I imagine there could be a bunch more shares under stop loss triggers than buyers at the same price in GGE at present, which to my mind could set off a similar downhill domino. I also noticed a single seller with 10,000,000 shares a week ago, sitting at 10c on the sell side. Dumping that in one hit could take out 2 lines of buyers which in turn could start further stop loss triggers down the line.
Please feel free to comment if you think I am misstating this possibility.
Just a thought ... and a caution to holders.
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Last
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Change
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Mkt cap ! $12.57M |
Open | High | Low | Value | Volume |
0.6¢ | 0.6¢ | 0.6¢ | $1.843K | 307.1K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 1835723 | 0.6¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.7¢ | 1449825 | 7 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 1835723 | 0.006 |
12 | 10425000 | 0.005 |
16 | 9220309 | 0.004 |
5 | 3570009 | 0.003 |
8 | 5966112 | 0.002 |
Price($) | Vol. | No. |
---|---|---|
0.007 | 1449825 | 7 |
0.008 | 3553177 | 9 |
0.009 | 1553611 | 7 |
0.010 | 345653 | 3 |
0.011 | 100000 | 1 |
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