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Do people think we might have a very large 'iceberg' buy order being filled in the background? Can anyone see if these buys are being executed by the same MM?
Very odd today! Cannot see 1 mill being a sell they wouldn't have got that price! I would say that was a buy but who knows! Watch our buyer(s) nibble during the day
Not long for news now! CB will start ramping things up again.
@theiceberg do you have access to L3? If so, how much do you pay and is it worth it?
Also, price is weird this morning in general. Total volume on L2 is 2.6m, with less than 200k sells, yet ask is dropping. Could be some delayed trades in there though. Last 3 trades were 2m buy at 4.3, 50k sell at 4.13 and then a 43k trade at 4.228. I can't tell if the last one is a buy or a sell :)
It was a bit weird it wasn't delayed timestamp.
There does seem to be a someone/ people happy to wait for shares to build up on the ask(L3 actual quantities that market makers are offering) and then they take it out.
Nice 2m buy (£86k) just went through on Level 2.
BTW. the 4.5 is a false number. Whenever the bid-offer changes, you see tiny trades at the 'official' bid-offer price before it reverts to the real bid-offer. The 4.5 'buy' was for 667 shares. The true top today is 4.4232.
That happens all the time. Buy price was dropping this morning, before it reversed and went up. In fact, another buy just went through on level 2 at 4.415, so it is now going the other way again (and then a sell at 4.3).
Steve, i am well aware of the trade prices.
My point is the buy prices are falling, 4.5p then 4.423p, and now 4.4p for 150k.
I am expecting a large sell, i could be wrong.
>> Iam just pointing out that the buys are getting closer to the actual bid price of 4.2p
The buys are going through at 4.4 and above at the moment, not 4.2. Sells are around 4.29
I am not selling any at these prices.
Iam just pointing out that the buys are getting closer to the actual bid price of 4.2p, which suggests that the mm's have got plenty of shares.
L200... are you selling some or all then ?
You must be correct, 150k trade just went through at 4.4p.
I would expect a large sell to appear later on today, probably after 4.30pm
True - can buy at 4.4849p - so a little less than ask...
I am sure you will be able to buy 500,000 shares, but not at the ask price of 4.5p !
Unofficial- but official ie you can view them on things like the Bloomberg terminal.
Can buy 500,000 shares with no problem at all - so plenty of shares to go around, if you want to buy...
I had no idea there was such a thing as Level 3 trading? Is that an official term or just a kind of loose expression of dark pool trading that you’re referring to?
In any case it does appear that supply is tightening which, let’s face it, at this depressed SP level one might expect!
Quite strange MM behaviour today. I can sell currently for 4.3p, which is higher than many of todays buys.
It kind of indicates that at least some of the MM's want shares. This is turn indicates that level 3 (the big shadow orders that the Market makers can see, but we can't), probably has no or very little quantity of shares available to buy at these levels. (unless of course folks start selling again).
Time to fly before news!