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Good to see a 50k buy on the bell this morning causing an early tick up.
Some buying pressure this morning? To my layman's eye, it looks like it. Hopefully will pop at some point soon
It really is groundhog day with this stock, thankfully trading elsewhere keeps me alert while we wait for the update but it looks like I'm just seeing the same thing every day. Buyer gets stock in auction just below full offer, then a few people surely through boredom sell out around 10.7p and smaller pi's nibble around 10.9-11p so no reason to drop and no reason to rise the mm's make money every day from it.
This is what Warren Buffet has to say:
“The stock market is a device for transferring money from the impatient to the patient.”
I for one do not intend to get bored and sell in frustration. Perhaps have a look at TMIP while you are waiting....
And still people sell ???
Seen ITX I used to call it "itsacon". It shares have soared/spiked recently after a positive trading update with market cap now £32 million with $10 mil net cash, showing growth but still not sure if it's making a profit.
Just shows you are better off loss making but showing growth than raking in profits and having a bundle of cash like OPG does. 10.63p to buy now is this the bargain of the year/decade or is there something we do not know. Tbh I've seen this situation numerous times in OPG where it's total friendless then results or a trading update comes out then suddenly everybody sees (again) what a screaming bargain or great value it is and piles in but sadly only for a week max then it fizzles out again as traders move on.
Let's hope it will be different this time....
It's just pure boredom, it's a traders market and not a investors market, a lot of people have bought into the OPG bargain story potential but they have given up waiting for news and sold back. Eventually if you have a gradual more selling than buying the mm's will drop off on L2 one by one which they are. It was 4 bid a week ago, 3 bid at the start of the week, 2 bid yesterday and now 1 bid as Shore take the 30k sale and move down. Do I think anything is wrong..not a thing, this has been going on for years in OPG slow drifts tiny volume and then bang they issue a RNS and volume explodes as people pile in. Do I want to buy more though...no to that as well. I just do not feel brave enough holding a portfolio of friendless "value" stocks drifting all the time to average down in them one by one
If this goes below 10p again I'm topping up, big time.
Of course do your own research but in my humble opinion, this bumping along at 10-11p can't continue given the numbers we know and the prospects going forward
I was thinking along the same lines....
I've just tested the sell price 10.25p mid price to sell Singer have just dropped to 10p bid but it's still mid price to sell so lets see if a delayed trade shows up or they are manipulating yet again. Bloody uncrossing trades in this one do my nut, almost every day one goes through at full offer so it opens up showing red, it's got to be one of the most manipulated stocks on the exchange, I watch hundreds of stocks and I've not seen a company with such good fundamentals like this one get worked lower and lower and lower all the time.
Yep usual bull from the mm's dropping the bid but no delayed sale popped up one hour later. Imagine instead of pushing it down all the time they spiked it to 20-30 instead, naah no chance they only do that mostly to the rubbish on Aim before a placing
Cenkos at it now, dropping to 10.5p offer no delayed sale now they are on the higher 10.2p bid, it's like a endless game of poker these mm's in this stock every day.
Malfunction this morning in the OPG mm room they have put the bid up instead of down. Can still buy at 10.79p, imagine a stock making serious profits doing 100% in a day instead of stocks going into administration now that would be a refreshing change eh !
Bid up , but buy price unchanged , closing the spread to encourage buyers
Trying to shift the overhang ! Can hope this price has been created by a forced seller and not any nasty surprises
Looking better
Buy and sell prices moving up
2v2
Buying more relentless today
Still 2v2 though
Very nice to see this support. Do I recall the last time around 11p a couple of mm's had a seller to clear or overhang becausr they are not budging as of yet and I can still buy size no problem. Hopefully that will fizzle down before the close