trade info, page-25

Hi mgm1a,

If this is tracking the price of gold it is only over the longer term but intraday, it is driven by the multi-100k buy orders. It chooses to follow the POG when the "multi-100k" buyer sees fit, and the XJO when it sees fit.

Case in point, it set a new closing high yesterday when the POG was significantly lower than today and today the share price is lower when gold has gone higher.

I think you will find that the share price collapses when the multi-100k buy orders are pulled (which it seems they were today after somebody decided to dump 350k into the multi-100k bidder at 2.19).

I think it has to do with human psychology. No temptation to sell your stock when there is such a large bidder in the queue. On the flip side, if you are a buyer, you'd get impatient and buy 1-2 ticks higher than the multi-100k buyer. So how does the multi-100k bidder make money? My theory and totally unproven is the same bidder is putting small sells 1-2 ticks higher. Although the bidder probably had to buy 350k stock at 2.19 in this instant, volume traded at 2.20 is 400k so arguably the bidder could still come out ahead. Same as yesterday, the bidder bid 400k at 2.16 but 700k+ was bought at 2.17 and I believe none of that 400k buy order was sold into. Of course, for all I know, the multi-100k bidder might be the one dumping into his own order to create panic for those who bought at higher prices and to coax them to sell them back to him at a loss.

Once the bidder sees there is sufficient selling volume, all the multi-100k bid orders are pulled and the bidder starts soaking up loose stock at much lower prices (like 2.10-2.11) in readiness for the next pump. Now see what happens when the next multi-100k buy order appears. The stock has gone down like a rock when the multi-100k orders disappear and up like a rocket when they appear. Alternatively let's see if the "seller" now starts stacking the sell side like he/they did a few weeks back.