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Especially when we are still 10% below the last BOD buy price - clues are there yet some still give their cash away
The point being it’s now a volume play not a price play
To acquire you sacrifice a limited volume- so why does the RSP change so materially ? Wink
Afraid that’s totally wrong.
RSP all over the place today on such small vol = in play
Thursday 500k sell at 25. Friday 21.5. Of course no buy quote for the same . Volume?
Reckon there’s a few “phantom “ trades ( within seconds) trying to spook the 21 buyers last month to fool off . Guess but classic modus operandi to unwinkle even the more sophisticated to ……………..
Just to add to that AM...
Any spread of over an arbitrary 3% is pretty useless for gauging buys and sells. The LSE algorithm used on this page only gauges a buy or sell according to if the trade was above or below the mid point at the time it ran.
So here are some facts.
# The published trades here can be 15mins late.
# If the spread is wide, there is no way of knowing what side of the mid point the trade was. Can be same for tight spread but vol helps!
# If a sp falls quickly, say bad RNS, sells will look like buys as by the time the algorithm runs it puts a sell above the mid point and shows it as a buy.
# If a sp rises quickly, say good RNS, a buy will look like a sell as by the time the algorithm runs it will be below the mid point so the buy looks like a sell.
# Furthermore it there is a wide spread you may find some MM’s are so far apart from the mid point so how do you know if it’s a buy or sell.?
# If you use interactive investor you may get a prompt like, ‘we have improved your order by £162’ so your buy may look like a sell when published as there was one MM with a better book.
# or the stock may be illiquid and there is only 1 MM with the min so they push the spread out, I have seen +40% spreads on AIM, to deter trades. Look at AIQ for example. It was 100% spread! Volume and liquidity are key to gauging value so be careful with illiquid stocks.
If you understand the ALGO limitations then the buy/sell is pretty accurate during ‘normal’ conditions.
I hope that explains some of the myths. But what difference does it make.
For every buy there is at some point a sell, why do you think the London Stock Exchange don't say buy or sell. It’s just a trade to them. It’s the aggressors price that is published. I.e the trade instigator. The simplest way to gauge the buy/sell demand is the SP trajectory, the volume, and the chart candles. So if sp is going up then overall they are being bought. The shares are overall in demand.
There is more to this. I posted some info on GLO about MM schemes. But I think the that covers the gist.
Usual caveats
Trek
120p. That’s my guess
greendave- the LSE algorithm that determines buys and sells is essentially useless. It should be ignored. It just takes the mid point as the boundary between a buy and sell, which is often not correct. It also does not account for any delayed trades. No conspiracies, no manipulation, just a inadequate algorithm to determine whether a trade is a buy or a sell.
Drill results/update within next 2 weeks.
MRE - hopefully before Christmas, maybe early new year depending on what they find drilling
Assets sale/takeover/corporate transaction anytime from MRE+1 day.
I just looked at the director dealing section and did a quick calculation of the CEO, Bill Humphries, average in his ~5.5% stake in the company. Not all his transactions are listed on the page, but from those listed his average is 55p. I actually think its even a little higher than that because some of the earlier transactions are missing.
He is not selling this for less than £1, and i suspect even a little more than that!
Cenkos given another tranche of stock to shift imho
Gave me a chance to top up cheap, so all good. It will go up soon enough.
Nearly the same every day and still the price is under 30p - unbelievable