What can we do?8 Apr 2021 11:03
It occurs to me that the failed algorithm for deciding whether a trade is a buy or a sell is doing us a lot of damage at the current low price, and hence small spread because there is not enough scope for a big spread!
The closing price in the UK is the mean of the spread, but on ASX it is the price paid and received on the last trade of the day - could misrepresent the day's trading of course, but at least that price was met!
The damage was apparent yesterday! Both BTS and I bought at 2.935p in a spread of 2.9p to 3p.
The algorithm (sounds too grand but c'est la vie) is that the 2.95p is the deciding point. Trade price is compared with it. Below 2.9p must be a sell, Above is a buy , 2.95p is unknown!
Yesterday the nervous holders on here, saw all those sells and with such a low spread let their golden nuggets without a limit imho! Had they known people were actually buying they might have put in ambitious limits for their sells, or hopefully decided to hold,.
Eg with BTS buying at 2.935p it would make sense to limit the sell price at 2.94p or even more!
i.e. the trend would have been up and the nervousness would have been dissipated for some, until Whizzer raises their doubts again!
MM has been right all along, this is a Strong Buy and has been for years but only for LONG TERM HOLDERS!
For the chancers , out to make a quick buck, it changes all the time.
If anyone needed tan indication of whether to buy, sell or hold and they know BTS's history - he gave this share one huge thumbs up yesterday! A trebling+ of today's prices is around the corner - the only question left is how long is the straight? Our problem is this is the Nürburgring and we are caterpillars. I reckon we'll be butterflies within the next quarter!
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