The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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I think this explains it 1plus1...they're trading against the market...
"The spread is how IG makes money, specifically through customer trades that "cross" the bid/ask spread. There is a "commission" charge that comes into play when one is trading CFDs, but it is added to either side of the market spread, and there is an actual commission for every share-CFD trade. "
Its a bit like VILX...you get a quote to buy or sell and can easily deal in millions but they simply hedge it against VIX prices offer by BNP Paribas...so they make their money on the turn...
So you were quoted 36p when the Quote was 35.9..,.IG could potentially make £200 from that trade on a 'back to back basis...
And I wonder if IG are one of the 'backstops' when the MMS want to go short, or even a significant component in the end of day auction for the UT...?
Picked up another 400k today through HL. Wasnt that difficult, just left a resting order.
Ah jerry...that may explain why they keep trying to take it down...like right now...banged down to 34.15/34.85
And surprise surprise they'll take 400,000 off me but it's full ask for 30,000
Good move, Jerry. Are you still holding GGP?
Afternoon addicknt. I dont hold as much as I did, but havent sold any for a month or so.
Think I am done now on Solgold, but I have said that before....
I just tried to top up using II and can't get a live quote. Stock down almost 7% and apparently no one selling. LOL
The LSE quote above is way out of date...they've been 34.2/34.85 for 15 minutes at least...
What's happening to LSE...share chat freezes every morning...SPs out of date...?
Yep, beginning to look totally pointless, the chat apart.
Steve...I can buy 30,000 at 34.85 (full ask) and sell 400,000 at 33.9p...lets see what happens this afternoon...off for lunch...
No where near 34!
I put less than 4000 shares on a market order (I want to have a round number of shares :) ) with no price quoted and it hasn't filled in 20m. Never seen that before for SOLG. Maybe it is a technical problem.
Looks like the RSP (retail service providers) have stopped offering stock and will only bid for stock. Pain in the a@@e and suggests there’s a few books in a mess. They should have to deal in NMS ( normal mkt size) if challenged by phone however. I’ve witnessed this today via HL
Just been turned back on ! Almost as if they are reading these posts ! Very unprofessional and the only way to turn a bad position around is to trade around the problem, not avoid dealing. An indictment on the amateurs that manage these books .....order monkeys and not professionals these days. Encouraged not to take on risk or run a book ....most books go home flat every night. Pathetic ...rant over
Was Solg sitting on a Tier 1 copper/gold asset when you invested? Yes.
Is Solg still sitting on a Tier 1 copper/gold asset now? Yes.
Is Solg due to release the PFS for this asset in the next few weeks? Yes.
Since you invested, has Solg discovered another potential Tier 1 copper/gold asset? Yes.
Is Solg likely to release news very soon of further visuals and assays from this new discovery? Yes.
Does Solg also have multiple other highly prospective targets that it is currently drilling? Yes.
Is the share price today 34% higher than it was a month ago? Yes.
Is today's price drop anything to worry about? Nope.
Yes, my trade went through at 14:18
Hi Colonel. It's been said in the press before (I wish I could find the article/s), about how a major mining company would care more about buying proven assets, rather than trying to save money. So I would guess that a company like BHP are waiting for more of Solg's portfolio to be proven-up, before it makes a bid for the whole lot. I tend to think that they wouldn't be bothered about saving cash during a share price drop. If they did, then they would have made a bid earlier this year, when the price was about 12p :)
It is of course a better-looking portfolio than it was six months ago. But we don't know how 'proven-up' BHP, or anyone else, wants our assets to be, before they decide to bid. We are assuming we are ready, but we may not be yet.
SP has been taken down today on little volume, and I'm surprised folk are selling their golden tickets at this stage of the game. But couldn't resist a little top up myself this afternoon. At least the RSI has cooled off again - hopefully ready for the next rise ?