Christ these small bot trades are really perplexing. This is someone who wants to accumulate but doesn't want to make it obvious and is trying to hold the price within range. Only thing is that the trades are so small it will take him for ever to get a decent parcel.
I don't know what it's all about. Very confused. Surely someone here must be able to explain the theory behind this. Might post a question in the general forum.
I wonder if the plan isn't to drown out the buys in noise created by the number of trades (ie total volume for the day divided by # of trades wouldn't attract anybodies interest as the average parcel is only a couple of thousand shares?).
Check out the course of trades and you'll see that the only buys of larger than 20k shares was at 30c and 29.5c.
As an interesting aside, I amended my outstanding buy in HLXO, from this morning, to take 275 of the 290 HLXO's that were @ 8.5c (I like round numbers) and was surprised to see my at-market purchase fail and then be replaced (further ahead in the queue) by a buy of 49,700?
After I cancelled my order the buy dropped back to 7.5c?
Intriguing to watch isn't it