Somebody is trying to surpress the stock price each day by putting in stupidly high sell orders, weighing down the sell side.
This morning first thing, the spread was fairly even- about 400k buyers and 400k sellers.
All of a sudden there appears a heap more sellers and I think these are the orders:
1.590 200,000 1.590 60,000 1.650 291,622
At the end of each day, the ASX gets rid of any new orders which are too far away from current price, so whoever these orders belong too must be resubmitting them each day.
MOL Price at posting:
43.0¢ Sentiment: Hold Disclosure: Held