re: Ann: Elemental Successfully Completes A$3...
I have studied the trading action all day today whilst pretending to work.
It is plainly evident that a suppressive bot has been consistently selling. It effectively quashed the momentum created at the start of the day. We were well on our way to high 20's today imo.
The way I read it is that the bot waits for the initial exuberation at the start of the day to subside and then starts to chip away in a downward, choking style.
The first bot trade selling down into the bid that I can see was at 10.37.19am for 801 shares at 24 cents.
Note the bot trades typically occur every 5 minutes and 1/3rd the previous bot trade always selling down into the bid to suppress the price.
Occasionally, there is a re-load bot trade of significantly more shares. This occurs when the prior 1/3rd bot trades reduce to a miniscule amount of shares. The cycle then re-commences constantly attacking the bid.
Note that the trades at 3.43.11am through to 3.43.31am was a legitimate purchase of 15,000 shares at 24 cents and 24.5 cents.
Then look what happens.
Within 4 minutes, the bot sells down from 24.5c to 23 cents and then continues every 5 minutes to sell into the 23 cent bid in 1/3rd increments.
The bot was desperately trying to match the closing price at 23 cents to ensure a negative day technically but then a good guy closed the price out at 24 cents.
This is really disgusting behaviour by the bot.
K2P Price at posting:
24.0¢ Sentiment: None Disclosure: Held
