GXY 0.00% $5.28 galaxy resources limited

Interesting. I didn't realise that was actually misconduct. If...

  1. 3,325 Posts.
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    Interesting. I didn't realise that was actually misconduct. If that is the case (and I don't doubt you) then there is plenty of ammunition for prosecution with GXY trading.

    I watch these shares almost continuously and spoofing occurs almost continually. In fact I rely on it to trade against - that is how frequent it is. I can almost predict which lines are spoofed now and which are going to hold.

    I'd say (anecdotally) that 60% of the large line orders within a few cents of the sell side are spoofing at almost most of the day. The retreating movement is highly predictable. The normal pattern is to load up and retreat back in 1 to 2 cent intervals until the buying pace slows down. If the buying moves by up to 4c in a short time (say an hour) they will strip out the big sells and spread them about 10c away over multiple lines, then wait for a pause in the buying and then drop about 500k sells in rapid succession about a cent plus from the buy line spread over 2 to 3 levels (about 1.5c) and then fight it out at the buy line for a while, if needed they will add up to a million additional sell orders substantially higher up the price curve to weigh the selling down, depending on how many shares the buyers have bought earlier and at what speed. When they close in is the time to sell if you are trading and then buy back after it falls a few cents, usually just below the first major defense line - as that usually gets wiped. Interestingly, often before a sweep down the centre-point trades increase, but I suspect this is simply reflecting a more aggressive attack/defense behaviour. If I place a trade "at market" it will often go through at the centre point, so clearly this is being used by my online broker for those trades - thus not necessarily reflective of any particular skull-duggary.

    What's interesting lately is that the first defense line is often holding, whereas in the past it was predictably wiped, although there have also been some very big trades (usually up to 2 a day) where a stubborn defense line is wiped on the way down and you can see them in the minute trading volumes as spikes - which goes against the narrative, and is the reason why I am finding GXY harder to read at the moment. In among the hesitant spoofs are some serious sells occurring, at levels below where they could have sold the same volume over a longer time frame at a higher price earlier. There does not seem to be the same degree of coordination and consistency in behaviour as there used to be, and it varies significantly through the course of the day.

    The buying is much more aggressive but inconsistent through the day, within a range, and the selling more sporadic, although the bluffing is pretty much consistent on the sell side. It looks like there are a number of groups with different agendas operating, whereas before there was maybe two groups, but one much more powerful than the other and very well coordinated.

    Anyway, now we know it is actually against the rules I'd say spoofing would be the best line of investigation, for those desirous of cleaning up the trading, partly because it is so frequent on GXY.
 
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