Its looking like there might be a total collapse. Only 11 bids to buy 770k. These would be satisfied by teh 6 sellers at or below 4C. That could leave the remaining 19 sellers out in the cold.
Printable View
He could well be the mystery buyer lending support at that level or it could be one of his disciples. ALF buyers are exhibiting the classic lessons by following the tried and true Belgology technique of buying into a down trending stock and taking advantage of the dollar cost averaging that goes with it.
im in for a penny.....
I think thats as low as you can go (bidders now in at 1 cent!) don't think you can put an order in for half a cent
Isn't this one below 1c?
http://www.nzx.com/markets/NZSX/CER
Top bid = 0.009 (at time of post of course)
Alan.
I just tried putting on an order for 1m ALF at $0.001 ($1,000 worth at that price if my maths are right) but it was rejected by ASB's online system, possibly due to the limit price being too far off the current price (I have no idea why they reject for that reason, but they do).
Alan.
Which I guess also begs the question "what do you call a minus 10 bagger?" At 40c cents a year ago now down to less than 4 cents. I didn't come across a phrase for this in my Belgology text book - and FTX only managed to go from 50 cents to 10 cents in a year before the bottom fell out.