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Certain patterns are probably very familiar to the guys who day-trade OCDO. And sometimes the moves even standout to me.
Like today, when the biggest volume of the day (2) landed just as the sp broke through the falling trend (1) just after lunch:
https://invst.ly/14m-ic Why would someone looking to offload wait through the morning for the price to fall and then sell just as it starts to recover and break upwards again? It isn’t a smart selling move unless the objective is to use the power of volume to limit the price and drive it back down.
Later on, a little bit more volume also helped nearer the close too, helping the price to a nice low going into the auction,
Just imagine if you had happened to sell around 7k of shares during that last 15 minutes (at, say, 16.28.24) for £25.31k knowing that you might somehow buy them back just after the UT (at, say, 16.36.23) for a bit more - like £24.7k. That would have been an easy £580 in less than ten minutes wouldn’t it? Not big time stuff but OCDO is perfect for it - you couldn’t do that so easily with Shel or BP. That example was purely hypothetical, of course, and I’m absolutely sure the transactions I referred to were not connected.
Interesting to see that raised volume 15 mins of trading yesterday that I was talking about, seems to have established a 346 resistance level for traders currently. Let’s see if it becomes more significant. https://invst.ly/14npy8
Boyo: looks like some divergence that I marked as a possibility on Weds. Doing a great job of trying to shake a few more off despite NIC news today.
It'll be Interesting to hear what you made of today then Gioviano:
The price continued to look a bit manipulated to me today - still oddly trapped for much of the time below 346 and then released at an opportune time to ultimately trigger a very positive UT and closing price:
https://invst.ly/14o2p8 (15minute chart prior to close, highest volume shown 380k )
https://invst.ly/14o42g (same chart but including close - note the massive after hours volume 7.891M or 85% of the day’s trade)
On a daily chart it looks like this https://invst.ly/14o4fk with the day’s total volume at 9.274M, well above the current average of 5.9M.
I’m not complaining but it does look stage managed: 1) Was there a two day concerted attempt to push it below 340? and 2) Are any shorts closing because the attempt failed?
I dunno either!
Just tried to post and it got lost somewhere, sorry if this turns up 2x
In theory shorts increased. See this link. I can't see who increased their positions. Assuming this data is 48h out of date, then that doesn't challenge your question as to whether the high volume at the end of the trading day might be short covering boyo. I guess it'll be interesting to see how tomorrow and Mon/Tues play out. I'll keep checking that. Not sure why I can't see more detail this evening, but we're now the 2nd most shorted stock on the UK market.
https://shorteurope.com/details_company.php?company=OCADO%20GROUP%20PLC&land=united_kingdom
Same caveats about the data being 2 days out of date, but there's more detail on Short tracker. Last reported changes on their are on Apr 30th.
https://shorttracker.co.uk/company/GB00B3MBS747/
Yeah, I use shorttracker. I don't think shorts have necessarily increased I think Nr 2 dropped back (I'm not sure if it was Kingfisher) Anyway, just be glad you don't hold PFC!! Shares suspended until auditors do some more work.
Looking at the big D1 Capital short that seems to be related to their long position on Instacart.
I feel comfortable with that. The Ocado/Kroger partnership is primarily about delivering people's weekly grocery shop. You can't deliver chilled and frozen with Instacart so they are operating in somewhat different spaces.
It's like saying Deliveroo are going to cause Ocado sales to decline because their riders are going to Tesco to pick up a bottle of coke and a couple of pizzas.
D1 have an office in Miami so could be them aggressively pushing the Miami spoke closure fluff.
D1 are so smart that they invested in Instacart at a 39bn dollar valuation in 2021. Up significantly from the 2020 value of 7.5bn.
When it listed last year it did so at about 8bn.
Just looked through Instacart's full year earnings release. Presented as a "Letter to Shareholders".
This is not a serious company.