The next focusIR Investor Webinar takes places on 14th May with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Im not sure if this has been discussed here yet. But at the risk of sounding naive, some of the the MM activity is illegal is it not ?
Only been around for a while and Fortune has mentioned a number of times how undervalued BMN is and what everybody on here points out. If the recent placee First Island would have been tied in for longer, the SP I guess would not be this level. Although everybody hates the mms daily tricks, have they not been given the ammunition to continue. There appears to be good buying on a daily basis.
Three little piggies taking shares from a big bad wolf blowing shares all over the place. Thanks for the ongoing analysis. I wonder how long this sort of behaviour will continue.
Endion, as requested
https://www.thebushveldperspective.com/trading-analysis-22nd-oct-2018
It's triplets !
Alpha et al, has it been formally communicated to BMN that it is felt that the share price is being manipulated and that SP Angel, from our perspective lack any credibility whatsoever and are perhaps more of a hindrance?
I felt the FM was a little piqued concerning the non advancement of the SP in view of recent developments and wondered if there might be moves afoot to address this specifically. (from watching the recent interview).
Quite a few after the bell trades today. Unusual for BMN, usually found in stocks with more volume and interest. A sign that trading may soon be beginning to grow to another level? Or just a temporary phenomenon and something to do with the First Island shenanigans currently going on? Only time will tell. Possibly with a dollop of help from Alpha.
Could that be an agreed price between mms and First Island for a % of their remaining holding
And now it's gone back to 29!! Possibly a MoneyAM website issue then?
Wish I'd read LSs post before I posted! Doh! There goes another theory, and it looked so good too!
Sorry chaps,just got back from walking the dog.
Alfa, that's from MoneyAM
YTSS VWAP is defined as:
The volume weighted average price (VWAP) is a trading benchmark used especially in pension plans. VWAP is calculated by adding up the £'s and pence traded for every transaction (price multiplied by number of shares traded) and then dividing by the total shares traded for the day.
If the MMs are hitting exactly 29 day after day then to my mind it indicates that it's deliberate.
YTSS - well the short MM will no doubt take 5M off their hands and if any news lands in the next couple of days then you may discover that the buying volumes go up significantly. Personally I'd like a little more time to get some more shares at low prices though.
What does vwap stand for.
Is that 750,000 a buy or sell. I assume if a sell must be FI still off loading. Will take a while to offload their remaining 25 to 30m
But it's just altered
Alfa... Money am
Tyfoon - where is that data taken from ? - it shows different here on L2
For at least the 3rd trading day on the trot the MMs have landed the VWAP for the day on exactly 29 (it dropped to 28.79 earlier), so I guess that's their regular end-of-day target until further notice
Buy Volume 1,665,622 Trade Low 28.00
Sell Volume 1,398,435 Trade High 29.35
? Volume 1,261,349 VWAP 29
Total Volume 5,075,406 Prev day Vol 0
I would expect the seller and the MM to sign an agreement where the seller agrees to give up a block of shares for sale and the broker agrees to achieve a minimum price per share, or a minimum total amount. This gives the MM certainty and gives the seller no opportunity to change their mind half way through. Similarly the FI trust are simply processors of the deal, the real decision makers are likely to be Rhino Trust, and that decision will be irrevocable unless of course the price crashes down through the lower limit set. The MM will try to keep the SP in the sweet spot where the shares make the minimum price needed but also where buyers hoover them up. PI sellers or other MM actions may interfere with the status quo but buying shares as close to the selling price achieved by the seller seems to me to be the best strategy for us, so its the usual punish the dips that will win out. If the MM can also tease out some shares from PI at lower prices then of course they will, but the opportunity to move big amounts of shares means achieving the MM/seller required price. IMO gla
They couldn’t wait to floor the bid from just reached 28.8 to 28.6 & within seconds 28.37
And here we go again.... get your rakes out people and scoop up those leaves.
The question is of course how big is xx - I shall have something on this some time soon.
My take on it is First Island leaving the party. I think your analysis is spot on however I believe the MM’s are fully aware of FI sell down and what they have available to ‘play’ with.
Chish, and so what exactly is xx ?
It’s going to do this for the next month till the xx million overhang is gone.
LO & behold I post that & thy up the bid to 28.75. What idiots
my original post now has 49 recommends, you Mm's should be ashamed of yourselves. I pointed out the slow upward movement of the bid in a later post & the Mm's collected a few shares 7 took it back down rapidly. 28.8185, 28.655. Since that with a lack of sells they are agonisingly putting it up again but it is like drawing teeth 28.665, 28.667, 28.668, 28.7 where it appears to have ground to a halt