ASX Today, page-107

Interesting action today. What remained of the 1M shares for sale at 9.5c was snapped up in the opening auction as we may have anticipated, only to be replaced later by another 1M sell order at 9.5c. This has now happened 3 times so it is not a coincidence. Either someone has many millions of these shares which they want to offload at 9.5c or it is a tactic aimed at keeping the price below 9.5c. How the latter might work is as follows: suppose you have a large holding but you wish to accumulate more without causing a huge spike in the price. You could put in a large sell order at 9.5c which retail holders will see and think - if I wish to sell my shares I need to put in a sell price lower than 9.5c. Then whenever these lower priced sell orders come in you (being the person with the large sell order) hoover them up. Eventually your own sell order at 9.5c is matched at which point you hopefully have purchased more than the 1M you just sold in which case you just start again. Most likely this is not what is occurring but I cannot completely dismiss it.