Harlee - that's classical bot trading at work. "He" is actually a computer, programmed by the Ph.D. eggheads at one of the brokerage firms - they are the only ones who can manipulate these tiny trades without having to pay brokerage to themselves.
The biggest culprits are Goldman Sachs, Bear Bros, Lehmann Bros, and Deutsche Bank.
If you have access to real-time course of sales data (I do, using ProTrader) you'll see the pattern.
Stock that has been particularly hard hit by bot trading in the last few days is PDN.
Sometimes it's a sign of somebody wanting to get rid of a large parcel of shares, but more often, it's programmed to push or walk the price down so that the bot then goes into "buy" mode and starts buying at the bottom, for a net lower price than what WAS the market price.
Happens all the time, unfortunately. Many retail investors and traders think - as I do - that it is immoral manipulation and should be banned. But it is legal and won't be banned, so we just have to learn to live with it I'm afraid.
GBG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
