"Could smart money be buying where a bunch of retail traders can't see and selling where everyone can see....."
I get the distinct impression that sort of thing is definately happening.
You also get slight variance in the best buy and best sell price between the two markets,
So in my example this morning I put a buy in for a million shares at 1.7c only seeing ASX depth. Accordingly I was expecting to see the 300k on offer wiped and the balance of 700k on the buyside.
The order was completely filled and very little from the ASX. When I looked at ChiX there was sellers at 1.6c. So who's to say my order wasn't filled at 1.6c and they charged me the full 1.7c???? very dodgy at present imo.
BGS Price at posting:
1.7¢ Sentiment: Buy Disclosure: Held