Drifter, are they trading, or are they just selling big posistions in slices?
I cant see a trading strategy in this!
see, the strategy is this:
they sell itzy bitzy tiny amountses every 21,51 seconds (or whatever interval).
that ordertype is (to my knowledge) sometimes described as "CD" ("careful description") and enables the trader to even out the total execution price over a period of time.
if i sold 10.000 NOW, the price would be 10$ in a second or two.
if i sold 0,15 every 15 seconds for 3 days (3*24*60*60/4)
my activity would
- add liquidity to the market
- likely not disrupt pricing
- lead to a price being printed 4x/minute
and last not least
- probably end up having sold @ ~19 rather than 10.
so it is likely someone loading off... smartly.