Rusty, agree with what your saying regarding underwriters and plenty of shares in circulation etc. Friday's trading looked bit unusual to me, because the II's in my opinion could have achieved much higher price if they wanted. To me it looked more like shares were being exchanged between funds within the same group, maybe I have totally lost the plot, it's just a feeling I got. Alternatively we are just starting to get some big boys in the picture, long as SP moves upwards I am happy. I am also long but at times I do ask myself if I should join the traders. Mainly because POG has been extremely stressful, painful and frustrating stock. Have a great weekend all....
My take on all of this ( for what its worth ) are there are still plenty of shares to be had from people who underwrote share issue and didnt really want to. I think once they are gone and there are less to go around then we will see some action. I expect that action to be an upward action. The thing that surprises me, is why would they sell. But if they have got an immediate 205 return, may be happy. We also tend to forget that it dipped immediately after rights for short period and some people could be looking at nearly 50% profit. Long term for me.
To be honest never really checked the spreads against any one else. I normally ( if I am able to watch ) look at the price if I am happy deal. ( not much lately ) or put a limit order if I know I will not be at computer and happy with a specific price. Again not done that for well over a year. Never had a situation where I couldnt access for a month, was about a week or so when they were changing their website to sharedeal active. Main gripe would be charges on corporate actions. But dealing charges if compared to the likes of Barclays is okay.
Rusty, I compared spreads with the serial trader and Jarvis on dog, Kenmare and Centamin sometime back and they were consistently better than TD but that was at a time when all three had quite high spreads. The spread for Centamin with TD is now not too bad. How do you find Jarvis spreads especially with small caps? About a year or two ago he and a connection of his couldn't get in to their Jarvis accounts for about a month. Have you ever experienced anything like that?
RE: Large trades.
Hi Rusty, Yes very strange day, extremely large A trades, millions of buys per trade and we still end the day almost 2% down. The ratio of buys against sells don't justify the end result, guess anything is possible with POG. We are irrelevant when big boys come into action. At one point 20m was being offloaded in same price bracket of 6.15p It's a shame the SP went against us. The only positive thing is that the volume was great for POG's standard, hopefully the volume picks up and SP moves in our favour. Have a great weekend all.
Some very large "A" trades gone through late in day, With these volume trades they would not be traded, Must be a very large seller still with plenty to sell. Until these gone or positive news elsewhere this is going nowhere.
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