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Jackal your manipulation post was actually down to an uncrossing trade UT which often steps outside the spread.
They sometimes reflect on the topside - higher than the spread. They are deemed to be more crefible than normal traded because they are akin to an auction to tidy up the books.
We have been caught with our pants on - the greater of two evils imvho!
We have two markets ASX and AIM.
Two companies based in Australia want to collaborate using their proven skills!
The Australians, familiar with the personnel of both double the vale of the company overnight!
Soon after 12k miles away a load of Roi necks start off copying the ASX trend but then it tails off as the day goes on!
Roi necks to Roi faces? I reckon so!
How many times have you seen a price but you cannot buy at that price because they do’t have any shares?
Using your logic that cannot happen either!
Market makers don’t own shares - they handle shares for others.
If nobody wants to buy or sell a particular stock then market makers declare their idea of the missing price.
Brokers protect their clients from typos by limiting extensions to the spread to 10%
So if they pitch the buy price too low they can kill buys because nobody will sell at that price!
I have first hand experience of this - I got the buy price to a tradable level by adding 10% repeatedly until I got to my price.
E.g. 3.3p , 3.63p , 3.993p (4p) , 4.4p , 4.84p to offer 5p when mm get it too low?
It has saved me a fortune because I once offered 4 on Asx but forgot on Asx the prices are in Dollars!
4c was taken as $4. So $0.04 was needed and they stopped a costly mistake!
Been caught with their pants down by this announcement I reckon!
Btw I’ve traded for a bank for 30 years so I understand how shorting works. I also understand how market making works and in order to make a marker you offer a buy and sell price. If you don’t own stock, by your logic, you cannot make a market. So a market maker who doesn’t own stock cannot, by definition be a market maker. They would simply be a trader. Rest assured these market makers can, and do, short the market. It is therefore in their interest, should they be short, for dodgy pricing like we are seeing right now.
Currently it’s showing a share price of 3.18 when the market is bid at 3.20 and a last trade of 3.235. It doesn’t make sense. There does seem to be some form of manipulation going on.
I believe they changed the rules on short position declaration earlier this year from 0.2% to 0.1%, but they normally only publish those over 0.5%. That said I'm pretty certain any UK Tlou shorts are exempt from these rules, and I've not seen anything on ASX declarations
Jackal, A simpler explanation is this ....
Market makers buy at a low price , and sell at a higher price if they can - they only sell what they actually hold!
A short seller , sells shares he does not hold , he sells someone elses shares on the understanding that he will return those shares by some date in the future.
The broker simply flags that number of shares for the lender as being on loan (shorted).
The lender is free to sell them himself, whence the broker will unflag them and find another lender to flag them against.
They don't even need to tell the lender it has happened as I understand it!
This is why some advise us to always have our shares out on sale at a ridiculously high price! They cannot use shares are that are on offer so if every share was on offer it would end short selling in that share!
I kid myself that brokers will endeavour to borrow from willing lenders and will pass on the costs paid by the short seller - but I don't know.
Jackal, on this page the penultimate option above shows outstanding shorts.
I have never seen it look any different to the current display. Short selling is borrowing someone elses share with a promise to give that number back plus any dividends received during the loan.
And it won’t be a free loan.
You sell those shares at current price in the expectation of being to buy that number back at a lower price before you hand them back. And you pocket the difference less the costs. If the price never drops below your sell price it is a lose lose!
The lender can also sell them before you give them back! It is obscene! In that event, your broker will find another party to lend them out instead.
To obviate this the lender is normally a pension fund or similar who are there for the dividends long term and therefore rarely sell shorted shares.
The dividend payments themselves create predictable fluctuations in the prices which short sellers are seeking.
We are years off paying a dividend because we plan to self finance business expansions. I am sure there are CFD deals galore given our volatility which are not short sells. They are in trouble if they believed Moron’s prediction of 2.25 or whatever crap price he quited.
Brad, are there market makers in the AIM market? If so, by definition, they have to be able to go short otherwise they couldn’t make a two way market. If they can short then they have financial incentive by the price falling. Those buy and sell indicators make no sense. You have a bid and offer, SP trades at the offer and it’s often noted as a sell. A lot of investors just won’t invest on AIM because of these questionable issues.
How can a company be valued 20% higher on the ASX than it is on AIM?
It is down to ordinary shareholders Jackal, idiots who cannot see what is going on in the world.
Trades at 3.5p were realistic on the way to 4.4p but too many sold to get all or some of their money back because they believe posts from Moron, which shows how little faith in themselves when they bought in at a bargain price. If it looks like a duck, sounds like a duck, and smells like a duck, they'd say it is a fox!
Poor follow through. That’s the issue when you have market makers influencing the market as opposed to just having investors. Endemic issue with AIM.
Proverbial shorters like Moron, Jackal.
I have never seen a short position registered on TLOU.
Not the mad rush I expected, but the price was only in the 2p's because of the mentality on LSE. Too many reject TLOU because it looks too good to be true!
I don't think that anybody is shorting this.
Actually closed bid at 7.8c. Massive volume 10.3m shares. Wouldn’t want to be one of those shorts in UK today. Ouch.
Closed at 7.6c , a tad disappointing but better than my average of 6.5c on one account, with 8c on the other.
Have dithered too long, not put in any limit bids for 8am .... what limit stands a chance? I thought 3.3p possibly?
But pre-funding the account and to not get in soon enough seemed likely.
BTS will soon feel happy that he topped up under 3p - and did not sell when advised to on here.
My IG account is registering a high price of 10.5c , profit takers have reduced spread to the high 7c's - the UK is waking up no doubt! Raising funds to get in early on LSE possibly? 4p by 8:05am is my bet!
https://www.marketindex.com.au/asx/tou
Humble pie for breakfast courtesy of Moron. Cannot see LSE reacting differently, because the Aussies are very conservative compared to us.
Whooops, trading is still open , what use is a Rolex when the clocks change every 6 months?
Being offered 8.4c - 8.5c currently
Morning appi , my ASX average price at close was met so I'm in profit over there!
appi days, eh?
Hopefully we reflect the gains down under today - currently at 8 cents +77% and significant volume. Gla.