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Not good
It's meaningless it's just normal trades.
Quite right, Quady. We could have predicted MRs response as he doesn't really understand much about this share.
So it was blackrock that was keeping the price at around 16p on the 5th/6th October. Looks more like their usual 'instrument' trading so basically capping price and preventing a rise. Unfortunately for them, Mitsui potential news broke after their trading late on the 6th and then house we had the news that Blackrock were not expecting... CGP deal on the 7th. So might explain the slap down from 22p to 17p as Blackrock try and regain some control. Looks like even Blackrock got it wrong. Could be a strong turn around should buyers give them trouble and there's loads of reason to be a buyer now and les reasons to be a seller at these low levels. Overall, it's minor.
No ColonelDrake it wasn't black rock it was really poor volume. At some point black rock will be above 5% again. So will you still say black rock have been manipulating the share price even if we don't go up.
I suspect so.
It doesn't go up as quick as it comes down though does it.
A few months ago there was sustained buying and we all saw this in the form of after hours buys and yet it creeper up.
Last week in 1 day with saw minimal sells wipe out a 20%.
I'm sorry I'm with Fort in this one......blatant manipulation
Let's see...
BR clearly didn't expect the Mitsui or CGP news. Whoops! That's going to cost them as looks like the normal instrument they use is to loan stock out eg shorting. They might have added a further amount on the 7th too as won't need to declare until 4% broken. They usually have. play around in the 4% to 5.5% level.
Smickster how can we have manipulation.
Are you saying every share in the FTSE 100 and FTSE 250 are manipulated. As they also have nearly all dropped.
We don't even get 0.5 of market capitalisation traded on a daily basis.
It's volume not manipulation.
When we get over 10 million shares traded at least on a daily basis, then if no share rise you may have a point.
But at these levels no way.
As I posted yesterday , if there is no manipulation what are the autobot doing? Open your eyes .
You answer your own question Quady.
Lack of volume makes it easier to manipulate.
Its nothing to do with wider market(although that has affected us too).
Not sure why your so defensive on this and the idea someone may want to keep the price down on solg.
Fort,
Let's hope with news in the pipeline any shorts are closed and we see a bit of money piling back in to solg and a steady rise.
Not the RNS or series of RNS's we require to fire up Solgold! Too early in the week maybe?
You'll never understand it addict:)
In a way it’s helpful. Blackrock always ****ing about with their holding….. makes no difference and helps explain recent weakness.
This is non news ….
Well done to the traders, don't listen to the rampers who are trading this while they ramp to high heaven.
CD why would BlackRock want to cap the price at 16p when as you yourself keep reminding us they were buying at around 30p a couple of months ago? Do you seriously think one of the world's biggest asset managers is in the habit of deliberately buying high and selling low?
And you are completely missing the point about their financial instruments that you keep getting so excited about. They are a long equity fund manager. Their funds hold shares. In order to increase returns for those funds (and enable them to charge lower management fees) they lend out some of the shares in the market, in return for a fee.
If those shares are lent under a title transfer securities loan agreement then the fund no longer legally owns the shares. However, they have only been lent, and the fund is entitled to have them transferred back from the borrower at the end of the loan.
Therefore for the purposes of the TR1 disclosure the fund has to declare the total number of shares over which it exercises voting control, both the shares it owns outright and also the shares that it is entitled to receive back upon the termination of a stock loan.
There is nothing sinister about the fact that BR has loaned out some of their stock, it's normal business practice for their fund. They even have a page all about it on their website. The fact you see the securities lending financial instrument part on their TR1 is just so they are disclosing the total amount of shares over which they effectively have control.
Rcgl , what happens to the loaned shares?
Sound post rcgl
rcgl2, I think you're missing the point. It's not the instrument or the fact that's it's blackrock at all. None of that really matters. It's the 'timing' of it. Blackrock don't go through thresholds that often and in my experience, when they do... it's either before or after a key SOLG event or in anticipation of an event.
They were acting buying back or the 'shares on loan' were being bought back last time in the mid 30's when I think the sniff of an ri was coming.
Focus on the timing of their efforts and not the instrument or the fact it's blackrock.
Unfortunately for them, I think they didn't see the Mitsui or CGP news coming as Bothe events (although Mitsui unconfirmed) happened after their trading.
There's a time and place and purpose to deploying that 0.5% or 1% that they use. And they usually deploy it at key times. One would assume to there advantage. Focus on that.
Quite right rcgl2, as always put much better than me.
Smickster you can always find evidence of manipulation, by looking at buying pattern's, shorting sites or just general trading patterns.
I have been here since 2012 and invested in 2013.
I have never seen any evidence of share manipulation. If you have evidence please post it and I will of course read it with interest.
MR, the people who post here are mainly long term holders and are not interested in minor daily trades. Frankly, I'm pretty sure no one's interested in whether you make fifty quid here or there, they are focussed on the implications of Friday's announcements and what they mean for the future of the company. Statements such as the one you posted this morning are quite simply irrelevant and if you'd been here for more than three minutes you'd understand just how regularly BR increase and decrease their holdings by a fraction or two.