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hello iphonei, sorry to disappoint you, but i have no
connection whatsoever with adam d. or jub capital.
Thanks for the explanation Trek and Dan. Satisfies my curiosity.
SpikeyJ or Adam Dziubinski from Jub Capital ? I heard JUB went bust after shorting EUA and i remember you positing negative stuff day and night. Some never learn haha
I agree with Spikey on the Coded trades - i'm sure there are a lot easier ways to communicate than secret share trades
they always look weird small trades - it is more likely to balance a trade as we are dealing in penny's
They can be divi buys, not applicable here. Inter market maker trades. Balance from auctions or liquidity trades put through by the market maker to help liquidity. MM’s often run schemes to generate liquidity, these usually involve algorithmic trading.
You can read about it on the LSE site...
Definition: market making incentive schemes that the Exchange is mandated to offer under Article 48(2)(b) of MiFID and Article 1 of Commission Delegated Regulation (EU) 2017/578
Page 58 covers it and also ALGO trades. Worth learning the offside rule before you play footy because you can be sure the MM knows all the rules! ATB.
https://docs.londonstockexchange.com/sites/default/files/documents/rules-lse.pdf
MiFID2 MM agmt tab...
https://docs.londonstockexchange.com/sites/default/files/documents/20200401%20MIT%20&%20TE%20Parameters%20version%207.2.xls
They are not broker codes! Hope that helps.
Anyway I just topped up here a 100k and a 50k. Following the money with my WSG profits. IMO Anything sub 4p could see 6p fairly quickly here.
Usual caveats
Trek
OK Why does someone trade 5 shares for 20p? I am just curious to try to understand why. Is it part of a larger trade including other shares? I don't know how the reporting system works. I have just invested in an AIM investment fund.
broker codes, complete nonsense. … (a) plenty of other ways
to communicate, (b) brokers are *opposition* for each other, not
mates trying to co-operate, and (c) as a communication channel
it would be wildly susceptible to being messed up by random /
deliberate trades from others, utterly unreliable - there would
be too much ‘noise’ on top of whatever signal there could be.
Thanks Dan. I thought that was probably the case but wasn't sure. A pity I/we don't know what each one means.
people say they are broker codes
Any explanation for why there are sometimes very small trades eg 5 and 6 today and yesterday?
sometimes people genuinely mistake rollover trades for two big buys, if
the agreed trade prices were over the mid-point of the spread at the time
of the trade (so that both trades are printed ‘blue’, as buys.) - but it’s also
fairly common that some rampers deliberately try to misrepresent a roll-
over as two significant buys. (one of the advfn rampers is doing that today.)
(hence, share price ended slightly lower, as overall there were
very few trades today; those two rollover trades which effectively
cancelled each other out, just selling then buying back, & apart
from those trades nothing much other than about £10K sold.)
hi frobert. the kind of rollover i mean is essentially a way for a short-term
trader to buy shares on tick, when they want to make a punt on a share rising
short-term, but don’t want to (- or can’t) hand over the cash needed to do that.
instead of settling their share purchase promptly (typically within two business
days, a T2 trade), they arrange with the counterparty (/broker) that they will
pay slightly more for the shares, but don’t have to pay to settle the trade for
e.g 14 or 21 days (T14/T21 trades). the trader hopes that they can simply sell
their shares for a profit *before* they have to pay the settlement money, so
they just book a profit, but never actually have to fund their trade … their
problem comes if the s/price has not risen enough for them to sell out at a
profit - then they need to sell the shares at a loss, or pay for the shares in full
(and stay long), *OR* they do a rollover … i.e. sell the shares they haven’t
yet paid for, but promptly buy them back, again for a delayed settlement
date …effectively buying themselves another 14 or 21 days for the trade
to come good [- lol, well, so they hope!] but without handing over the cash
for their shares. brokers will co-operate with this in exchange for a little
profit that they can make through their bid/offer spreads on those trades.
(contrary to dan’s explanation, most rollovers as above will not be transfers
from one account to another, or to a different entity. they are simply a way
of buying shares on short-term credit from a broker, in order to speculate,
with the buys and sells taking place in the same name in the same account.)
rollovers typically appear as two moderately large trades booked very
close together in time, with trade prices very close together, for matched
amounts of shares. you will often see them on speculative shares such as
ADME when short-term traders are hoping for a quick in/out on some
kind of news spike, rather than investing long-term for fundamentals.
those two 600,000 ADME share trades this morning fit the description;
matched amounts, trades booked just 11 seconds apart, with the broker
making £180 profit from the total price difference between the two trades.
(i.e. £24,000 minus £23,820)
note that rollovers typically *don’t* affect the s/price much/at
all, even if the trades appear quite large, since there is actually
no net trade made — the buy & the sell simply offset each other.
those two 600K trades this morning didn’t move the price at all, hence
another clear sign of a roll-over; if someone really had *net* bought 1.2
million shares this morning, price would have moved, for a while at least.
If past timings are anything to go by, it wouldn't surprise me if the CPR is not made public until August at the earliest. If we are lucky.
rollover is an internal transfer - from share account to ISA etc
shares haven't changed hands but are held in a different entity for tax purposes
What do you mean a roll-over?
Hopefully this share will turn a corner soon. I have my target.
600,000 trades are just a roll-over.
Interesting to see what happens here soon. The updated CPR is probably not far off now, and towards the end of the month, Full Year results.