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Gold/Mining/Energy : Winspear Resources
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To: bill who wrote (9058)11/2/1998 3:51:00 AM
From: Intrepid1  Read Replies (1) of 26850
 
Bill Re-opening bids. From what I understand, the pre-opening on the TSE, VSE and ASE is governed by the computer automatically matching the supply of bids with the supply of offers. If the level of bids at one level are greater than the number of offers at that level the computer automatically bumps up the price level. And vice versa. So what you are seeing is not manipulation but the computer automatically adjusting the pre-opening price to suit the supply and demand.

What I look for in terms of manipulation are heavy bids below the bid price which suddenly disappear when the bids begin to be hit.

Note: Nine times out of ten Winspear opens strong and then softens towards the end of the day.

purething

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