24 shares of IPM equates to about $31 worth around current price levels...it is not what I picture when I hear the words "program buying/selling". If I actually do the numbers though, 24 shares at the rate of once per minute equates to about 1,400/hour - over the course of a day thats going to be 8,500 odd, which is actually a big chunk of a normal day's recent volume in this share. Interesting.
Hard to explain but basically a smarty pants makes up a program to run on a computer with access to the ASX system and drip feeds either buy or sell orders.
They do this to build a position without making a lot of noise to alert others and forcing price up/down
bots are usually used by the big brokers (bell potter, JB were etc etc) and they do not pay per trade, they have some other sort of arrangement with the ASX.
Hi,
thanks for the explanantion, i was wondering about that myself, but felt too stupid to actually ask.
So can anyone tell me if these particular trades indicate that some individual is slowly accumulating shares in IPM, or is someone dumping the stock slowly, or both?
To answer your question. You can tell if they are buying or selling by the price that the trade is executed. ie, if the buy is 1.00 and the sell is 1.01, when the trade is at 1.00 it is the BOT selling and when the trade is at 1.01 the BOT is buying. Often you will see it both ways as different funds use bots to pick-up small parcels of shares throughout the day.
bots are usually used by the big brokers (bell potter, JB were etc etc) and they do not pay per trade, they have some other sort of arrangement with the ASX.
Two well not common activities are ...
1) The exact amount of shares being bought at one price but no excess in the visible depth orders. For example 387 shares appear for sale and 387 get bought followed by 2146 for sale then exact amount bought. Seen this go on for extended periods.
2) Limited or small parcel trading during the day and come closing auction time, large orders stack up against each other.
Two well not common activities are ...
1) The exact amount of shares being bought at one price but no excess in the visible depth orders. For example 387 shares appear for sale and 387 get bought followed by 2146 for sale then exact amount bought. Seen this go on for extended periods.
2) Limited or small parcel trading during the day and come closing auction time, large orders stack up against each other.