RE: Tomorrow22 Jul 2020 07:44
I disagree 'sells showing as buys and MM manipulating the SP up'.
1. MMs are bots controlled by human oversight. MMs make a percentage of all trades whether price is going up or down.
2. Buys (blue) showing as sells (red) and visa versa is not a cunning plan by MMs to manipulate retail investors. The colour is automatic based on whether a trade is below or above the mid-price of the bid/ask spread. Example: Bid 2.8p, Ask 3.0, mid price 2.9 means ANY trade below 2.9 is shown as a sell. Black trades are either exactly mid-price or direct market access traders playing games by trading tiny volumes to trick the gullible. A 2nd level real-time price console will show patterns. For example lots of transactions at 2.82p are likely sells and 2.88p buys. It will also show volumes and whether direct market traders are playing games.
IMO the reasons SP price went up yesterday and will likely to continue to do so today, Thursday and Friday are:
(a) The merger vote appears to be heading for a yes, based on (i) forum chatter, (ii) LTH retail investors with few shares not bothering to vote, (iii) a substantial percentage of retail investors would have to vote no, to pass the 25% threshold. and (iV) the small group against the merger making the most noise on this forum, probably didn't or haven't got many shares to vote with.
(b) Investors who got spooked and sold may start buying again (This happened after merger announcement on June 11 and 12).
(c) Day traders who rode the wave downwards via shorting BPC/CERP the last week or so, don't want to be left out of the party with no shares in play, if the SP hits more than 3p next week. (and even more than 3p during August with expected positive news flow and the possibility of institutional investors being whales in the water gobbling up shares)
All IMHO. DYOR. Have a great day
Starchild
xxx
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