Hi anok , with reference to liberty rumours fact or fiction. Well the Answer is this. Remember when your mom told you there was a father Christmas. Sorry if that shatters the illusion. G l a & a t b. Fellow vodders. Made a very small profit last week, then got back in. 7 weeks to results + Divi revealed.
Thanks. Decent day for VOD after bouncing from 206.85. But I agree. Hard to know how much is down to expected new Indian subscribers, or whether it's still trading within its recent SP range. VOD's highest close in 2017 so far, 214.70 on 13th Jan. That also proved a recent resistance level. Ideally, we'd want a closing SP higher than 215 with volume to confirm outbreak. Possible, but I won't be adding to my 1 remaining long, or doing much else until a while after Brexit trigger. - Naturally, no advice intended to anyone else.
Indeed I've read Livermore's book. Understandably well recommended. Written in 1923 under Livermore's nom de plume, Edwin Lefévre, it's subject matter deals mostly with perennial, psychological aspects of trading. Excellent book for such insights.
But perhaps not the first book I'd recommend for those after a fuller grasp of fundamentals or technical aspects of market behaviour. For a more comprehensive overview, for anyone interested, glad to add these (hope LSE allows such links):
Dr Alexander Elder's "The new Trading for a Living", though an older, cheaper version suffices no less:
I've noted some VG posts from "Ubiq" elsewhere, as you'll know. ;o) I've posted less on BARC's BB recently as down to 2 small shorts, one in profit, the other well down. But mainly looking for an exit there close to break-even, if Brexit uncertainties & an increase in irrational fear plays out later, as I think seems likely. - All the best!
There are some savvy traders on Barclay's iii board. Guys who trade often and know all the ins and outs. Have you ever read Reminisces of a stock operator by Jesse Livermore? Although it's dated the basic tenets of trading remain the same, as exemplified in his book. They've tightened up on regulation since Livermore's day but I admire his trading principals. I've heard a few of the posters on Barclays refer to him.
Voda heading for the stratosphere today, could it be the Indian numbers for new subscribers? I wouldn't have thought so. There's clues in the shareprice action.
Thanks for posting Barcap's comprehensive explanation. Appreciated. Maybe of interest, Barcap is still around on iii. Not as often as in the past, but occasionally he pops up on iii's UKX BB. He still links his Bianca website.
I don't go against what he says. However, the reason I mentioned in my earlier post about similar price actions taking place in the first minutes before market opens, as well as between 4.30 pm & 4.35 pm, which can lead to some SPs gapping sharply up or down at 8.00 am on market opening, is that some websites also refer to them as UTs.
For eg. from link below for VOD this morning. Quote: Time 8.00 am. Price 209.10 Volume: 1,073,478. Type - UT.
This is the best definition, and most comprehensive, of an uncrossing trade I could find on the net. Posted from our friend Barcap on iii some years back. Novice traders often mistakenly get UT trades mixed up for giant buy or sell trades after hours, and get excited. Two things about UT trades. One, they represent the closing price. Two, they happen at 16.35
While I generally agree with what you say, I do think market makers collide to price different shares at distinctly different valuation criterias. This is a factor traders/investors should be aware of before committing. You won't find any outrageously valued shares in Warren Buffet's portfolio (Amazon, Snap, Facebook)
The last trade at 16:35 is a "UT" uncrossing trade and can generally be ignored. For those of you who want to know how it is calculated:
The Uncrossing Algorithm performs a series of passes within an individual market, matching the best bids and best offers present in the price time sequence. When all crossed volume has been matched, an Uncrossing Trade Price can be determined for the market. This price is found by applying one of the following calculations. The calculation used is determined by the presence of residual limit volume within that market following uncrossing. The four possible cases are: • There is no remaining bid or offer limit volume in the market Uncrossing Trade price = the average of the bid and offer price from the last match. • There is remaining limit offer volume but no limit bid volume in the market Uncrossing Trade Price = offer price from last match. • There is remaining limit bid volume but no limit offer volume in the market Uncrossing Trade Price = bid price from last match. • There is remaining limit offer and limit bid volume. To determine the Uncrossing Trade Price in this case: • Determine what the Best Offer Price is. Determine what the Bid Price is from the last match. Take the lowest of these. This is known as the ‘High Price’. • Determine what the Best Bid Price is. Determine what the Offer Price is from the last match. Take the highest of these. This is known as the ‘Low Price’. The Uncrossing Trade Price is the average of the ‘High Price’ and ‘Low Price’. If this value is halfway between two tick values the price allocated to all uncrossed business will be rounded towards zero (rounded down if the value is positive, rounded up if the value is negative). If no matches occur within a market there will be no Uncrossed Trade Price for that market.
This wasn't a correction it was just the market moving. It has been unusually stable of late and generally on the rise.
A correction is normally 10% and IMV is needed to bring valuations down a tad and bring better buying opportunities.
This might be the start and events in the news might make things more jittery and prone to over reactions but Im waiting for markets to come off the boil somewhat. Maybe I have (or want) a different outlook as I look for income shares for that income rather than the SP rises and its the steady income rather than the fluctuating SP that means more. Plus I want to add when the market is down not up even if I expect that over time the SP will be higher.
Thanks for clarifying the "uncrossing trade" better than I managed to. Some VG points also.
Much agree regarding the potential for significant MM manipulation in low volume AIM stocks, a market far more difficult to regulate. Though rewards of trading AIM stocks can be great, so can losses for the less wary.
In some cases resulting in total wipeout, as it can also be very difficult to exit low volume AIM stocks at any price when surprise bad news hits, as happens. Sadly, true stories abound attesting to such a fate for many traders dicing with AIM stocks.
FWIW, I've always preferred to stick to FTSE stocks in sectors I have a reasonable understanding of, bar my recent trading of UKX, which in view of recent volatility, obviously carries far higher risk. But to each their own in this & other respects. - Regards & GL. Catch all later.
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