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Andreas, I think you are correct. It is impossible to judge the bottom.
There does seem to be an increasing number of companies that are suffering similar declines. I suppose it could be a reaction to the post pandemic excess of optimism. It could be shorters looking for their next target.....but no smoke without fire. Although at some point foreign money will swoop in and pick up any valuable assets left over from the carnage.
I think that there is an institution that has decided to sell up and invest the proceeds elsewhere. October broadly allowed markets to regain their composure and interest rises (in America) are not expected to be as aggressive as in the past. A delicate line to tread for the Fed and other central banks.
With the slightest glimmer of good news, share prices react favourably.
I figured out that my best option is to not follow this quote for 6-12 months, as I might set myself up for another lose-to-lose situation. Let me explain what I mean. Investing in a turnaround company is a mentally testing business, as it is difficult to time them bottom and as such one is likely to experience further losses in the short term. As prices fall further, its not uncommon to see a change of mind to 'save the stake'. This is particularly common when the investors stake is large or the investor in part (or full) makes a living of investing.
However, saving the stake at, let's say 20%, will rarely compensate for a successful turnaround which often can carry 5x-10x return. I can refer to my own mistakes here. For example, I invested in Indivior at rock bottom low only to change my mind and pull out. I have done this mistake a few times.
I will now let this bet run its course and see where we are in perhaps 6-12 months time. If I lose, I lose, that has to be a part of turnaround investing. What shouldn't be a part of my investing is a pull-out based on fear, or over exposure to daily quotes / declines.
On a different note, I wonder if this stock also is the target of short selling?
Good luck everyone!
Ah cheers AS, SPEC just seems to be on a downward trend at the mo, is there a seller in the background or something else anyone ?
David008, the reflected price published for each bargain executed is the simple software based interpretation based on the line of best fit. Where there is a tight spread, high volume or market makers with variation that provides ambiguity so the simplistic decisions can be and often are, wrong.
Less than 10 mins later... Direcotr/PDMR Shareholding RNS pops up lol.. Only 20k shares bought, i'm sure more to come by BoD's
Jeeez, another 6% fall today! Seller is killing it! I'm sure directors will take further advantage of new low.
It makes you worried for the world, if they cant even get a buy or sell right, with the technology nowadays lol
yep, my buy today is logged as 'sell'
They had to raise the bid all the way to 50.65p to get a bite this time, all the while maintaining an ask of 50.76p and an advertised spread of 50-52p. They are having to work hard to get shares...
Volume promising again with big buyers around the 50p level and an early dip bought up very strongly. I suspect a recovery to 70-80p is a matter of time given the low free float vs high buying interest.
I noticed the trading status changed to
'Trading Status: Periodic Auction Call'
Not quite sure what that means. Yahoo Finance shows 557k volume trades.
Actually when double checking the google finance data (that shows low volumes) vs. yahoo finance that shows 2 big volume bars past the increase +71%. I am no longer sure. It seems to good to be true though.
I figured out how to check the volume, it says 700, 200, 200, low volumes. Probably a false flag.
Can it be delayed past opening if it was last Friday? Its odd that even the London Stock exchange only supply 15 mins delayed prices. Not fair to retail traders.
Must be delayed trade from last week.
Is it a false flag? I can't see the size of the purchase.
Which lunatic purchased at 84.90?
Over 70% of this company is in sticky hands with Robin Totterman holding himself over 18%, (further enlarged now since Friday last). Aberdeen is/was one of those sticky hands and is selling up or done selling up. This could move very quickly with only a smidgen over 100M shares in issue.
Looking good for Monday, unbelievable how this much has fallen. So oversold due to seller.
Very good director buys, although the share price action that followed mirrored exactly what has happened all day, 3 attempted breakouts from 50p all shut down by the same spread shifting tactics from the MM's. It's like a plane stuck in a holding pattern.
10% of the company traded in 2 days pre late published trades, whatever is going on they won't be able to keep it down here forever. Suspect we get off to a fast start on Monday once a few more people see how far this has fallen + the big buying.
indeed and fuels confidence in management and i expect more to buy in here, feels like order filling to load and then off we go
Getting close to £250,000 spent by directors - good sign and as expected