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I don't trust the markets at all. You can have a fistful of trades within a few seconds of each other ALL AT EXACTLY the same price. Clearly all buys or all sells!
And they change the spread at a point where some trades are reversed?
Surely the spread should hold until they are all completed.
The ASX system is so much better,the price paid counts irrespective of the dodgy value of the spread, and consequently the dodgy mid point!.
The little trades are probably GG finally dipping his toe in.
These tiny trades of just a couple of quid are really weird. Don't know what to make of it.
What a difference to last week!
The sharp-eyed ones on here will have seen the only UT moved the sp ABOVE the spread to 4.4p earlier. Roll on the next UT :O) , only joking!
It disappeared, but at 9am there was a UT for 3.7p (top of spread) worth £1.8k, so thingsare looking up. LSE is a bit strange how it displays trade?
Steady on Tlou!
Quote price of 3p is still showing - I guess it was always higher.
Bit of a bug there.
Zak's 3.5p is getting closer
Fixed quote was 3p so I thought I'd have a bit of that!
Trial and error to get the cost as close to my balance as possible, and it did not make sense, until I realised the fixed quote had risen to 3.448p :O)
Only UTs are 3p or under!
Boo, on LSE could only find the options (8c on ASX) for TLOU, so I switched to HL, and got the same message - need to subscribe! I'm glad it is free I'd be very peeved if I'd paid for it.
Still have a bee in my bonnet about the frequency of UT and the stupidly low volumes being traded that makes me question wtf is going on.
I found this excellent article this morning so I'll keep an eye on the timings!
https://aim-watch.com/project/lse-auctions-explained/
Used L2 last night on ASX and was a bit cheesed when I got an automatic message to say I needed to pay an ASX subscription to view trading info!
I expected to pay one if I used DMA but assumed it would be free to window shop?
You have to phone to get the price, and I wasn't keen to show my ignorance if they asked me any searching questions :O(
I only want to see if I can spot who is behind these pesky UT trades which are holding the price back!
I'm going to see how it reacts to LSE now ..... fingers crossed I have more success than last night.
It looks like UTs are generated at start and end of trading, plus 9am and 11am!
Somebody has a long-standing buy in the system @ 3p (up from 2.94p) perhaps?
With sells going through for £1.50 and £3 it may be costing more in dealing fees that the trade is worth.
It is getting ridiculous - today's UT is for 50 shares , a whole £1.50p worth!
Tiny comfort that the heathen's doing this raised their offer from 2,94p to 3p this time.
Usuallt UTs are are for the biggest trades of the day, not silly numbers like we are getting.
Does L2 supply a clue where they are coming from?
I thought it stank, and this article seems to agree ....
https://www.thebushveldperspective.com/blog/public-articles-1/post/auctions-uncrossing-trades-and-evidence-of-manipulation-291
Appi, it is why I am unappi!
There isn't a trade below 3p that isn't a UT!
I'm none the wiser what is going on. But , when people twaddle on about market makers in future, I'll think of today.
https://drive.google.com/file/d/1__SU3rGKBDk3KKz7-3Ibk0DvNQ7sWY-A/view?usp=sharing
Very strange trading today. Opened at 2.94, small trades outside range. All day traded Ok with buys in the 3.3s and sells sub 3.2s. Closed again small 2.94 trade outside the range. Volume again insignificant but seemed very odd to me
Q. Probably NASDAQ or other USA market. On LSE they seem to be any time.
How can an individual participate in the auction market?
A. (Mar 2014)
"Auction is a special market where only members of the exchange can participate as fresh sellers and sell shares which are short delivered. The Auction market is conducted every day between 2:00 and 2:45 pm. To make sure that there is no conflict of interest, the exchange doesn’t allow the member whose client has defaulted in delivering to take part in the Auction market.
So if you are an individual, you cannot take part in the auction market. "
Share Price: 2.94 Bid: 3.10 Ask: 3.40 Change: -0.16 (-5.16%)
That 2.94p is the last UT value ...... 5 trades since, lowest 3.15p highest , and most recent, a buy of 3.38p
Does anyone understanding how 2.94p makes sense?
We seem to be getting so many of them!
Really tiny numbers most of them.
Tle link below suggests there has to have been an auction prior to each, so are the shares in short supply to cause this? I dunno. Serious question!
If you read the link you'll see we use SETS on LSE , and NZ use the price of the last deal, as does AUS. That is how I can dictate the ASX price at close if I time it right, but not the London price.
https://drive.google.com/file/d/1B1VE6IT9vUAMnTQjqTx1t07lw06hY5O_/view?usp=sharing
I'm a bit peeved because some UTs in the last few days have moved the spread down quite a bit!