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Just the UT uncrossed trade was 320p today. It'll revert back to the real close shortly. 296.52 I think we closed at. Lost about 3.85%
Not as brutal as I was expecting personally and the whole market got a proper kicking today, covid stocks included so it didn't feel personal at least:
https://ibb.co/yYRYVN9
Interestingly, Voleon are digging in, and have averaged up their short!
https://bdif.amf-france.org/en_US/Resultat-de-recherche-BDIF?formId=BDIF&DOC_TYPE=BDIF&LANGUAGE=en&subFormId=dpcn&BDIF_TYPE_INFORMATION=BDIF_TYPE_INFORMATION_DPCN&TEXT=&BDIF_RAISON_SOCIALE=NOVACYT&bdifJetonSociete=RS00005391&REFERENCE=&DATE_PUBLICATION=&DATE_OBSOLESCENCE=&valid_form=Start+search&isSearch=true
Bought another 1% yesterday. Looks like they're determined to hedge a couple BioTechs in their portfolio. Long/short strategy, quite typical but a pretty bad pick. Anyway, more shares which need bought back at some point and we know who has been suppressing the share price lately too.
Oops, Crab in there first, very on the ball!
Breaking story for those following:
https://news.sky.com/story/coronavirus-care-home-residents-and-staff-face-five-week-delay-for-covid-19-test-12039188
Likely Randox - they were supplying the government and got suspended two weeks ago:
https://www.theguardian.com/world/2020/jul/16/uk-government-orders-halt-randox-covid-19-tests-over-safety-issues
CE mark issue.
PrimerDesign have been changing tact a little recently. Their tweets are almost informative to the point of providing new info.
Check this out just now:
https://twitter.com/PrimerdesignLtd/status/1288797764504236032
The statement is in two parts.
1. #Novacyt’s Near-Patient Testing System brings rapid PCR powered by exsig™ COVID-19 Direct to further support the NHS in laboratory testing, but also in application areas outside of the laboratory that need it most
2. We can now support our customers... from saliva samples. (From image)
They're not exactly saying they're proving rapid 1 hour saliva tests to the NHS, but it's not exactly subtle either. At the same time they didn't spell it outright so can't really be taken to task!
Anyone else see it that way or got a different take on it?
Useless melon hanging on for dear life. Have to admit to enjoying the novelty of the man for a while, but the death count and shambles of international relations wasn't really worth my amusement ultimately.
He's brazen enough to try to pull something like that off.
On hell of a day all round!
https://ibb.co/7NTFvcd
@noob
Stocks can't go up in a straight line, they have to dip, or else the market maker whose job it is to provide liquidity, would run out of shares. Basically you have a lot of people wanting to buy, and few people wanting to sell, so the market maker has to use their shares to sell.
Eventually they get close to running out, which is called, getting 'caught short'. (Not to be confused with 'shorting')
When that happens, they have some options. They can change the spread to make it favourable to traders to sell their shares, and they can dump a lot of their remaining shares in a short period of time, over a few hours or even a day, this will reduce the price as it increases selling pressure, convincing even more people to sell their shares.
Market maker then starts buying back a greater quantity of shares than they sold. At even better prices. By end of day (or even more than a day if necessary) they'll have restocked on shares and even made some good money.
This is an endless cycle.
Of course that all sounds quite legitimate, but they're in the money making business too, and control the house. They run algos now which are used to bait and switch traders and the most aggressive tricks are used to frighten sticky longs (usually investors). These are called tree shakes and often look very dramatic. An up trending stock will bounce quickly and aggressively. A downtrending stock will bounce too, but not as much. That might even be enough to start a bear raid and can hammer the share price to new lows quite quickly (but we're heading off-topic now).
What you see with Novacyt this morning is an expected and probably even necessary shake before the next rally. It's very, very rare to have 3 blue days in a row, and we had 4 days in a row yesterday (the first time ever for Novacyt).
A shake of up to around 6% before a bounce wouldn't be surprising. That would catch a lot of traders and stop losses out down to around 290p or so, which I bet there's a bunch of stop losses at.
This is strongly up trending though, so if you're in over 300p, don't sweat it. There's a long rally to £4 next. We haven't even started with the sales news cycle, which is what the market is waiting for.
Fishing trip for MM's this morning. Been waiting for the piper to come calling.
Just no way they'll let a rally run for 5 days without hunting out traders and stop losses.
Close today will be super interesting though, a 5 day streak would be immense.
https://www.theguardian.com/world/2020/jul/29/airport-coronavirus-testing-may-reduce-need-for-14-day-quarantine-in-england-say-mps
Looks like Collinson has had some success with their lobbyists. Got 30 MPs and Gatwick piling the pressure on now.
The resistance is surprising actually. I think they’ll cave soon.
Second that! If you can't celebrate the good days, when can you!
Tomorrow is anyone's guess. Clearly bug moves are happening behind the scenes. Part of me hopes the shorts haven't been reduced at all yet.
That's even more shares needing bought back later hoho. And even bigger losses for Voleon!
Yep! Placing there soon. Also N4Pharma signed up with SP Angel this month. Expect a placing from them soon too.
One trading day it seems:
https://www.amf-france.org/en/professionals/professional-investors/my-relations-amf/net-short-positions-0
Rule is usually 0.2%, but seems there is a temporary measure currently in place where they've reduced the threshold to just 0.1%.
Split over both exchanges Chas. Asked the FCA about that a couple months back. If it was just our exchange and they got squeezed into buying back today we'd be much higher!
Tomorrow will be interesting, like Bram said, we'll get an update, I think with 24 hours of a short passing a threshold.
Just saw this today, so basically movies from Universal will come to streaming services after just 17 days?
https://www.macrumors.com/2020/07/28/universal-movies-itunes-17-days-after-theater-release/
Any word about other studios or are they digging in?
@Obelix
No covid related tenders awarded this morning yet. Lots of elderly and care home stuff just in the health areas.
http://bidstats.uk/tenders/
@Usain_
350% definitely nothing to do with Avacta. I've seen them post that rubbish on Twitter too. It's one of the existing NHS RT-PCR tests. Will be either Novacyt or Thermofisher or similar. One of the early WHO approved tests.
Clever. This is Collinson's doing. Using the media to put pressure on the govt. to push through their airport PCR scheme. Wheeling out the Heathrow boss at this stage means they're expecting a decision. If this is NCYT's PCR test it will be mega.
We know Novacyt supplies the NHS and had a 6 month contract with them starting a few months back:
http://www.pharmatimes.com/news/novacyt_to_supply_dhsc_with_covid-19_tests_1339090
And we know Novacyt has said a couple of contracts from earlier in the year have been extended into late 2020 and well into 2021.
I also think no matter which PCRR test is being used in this Collinson airport trial, they'll later switch to a rapid PCR test like NCYT's 1 hour one with saliva samples.
Oh it’s getting closer then! This is the Collinson trial. We’ve been wondering about which test it is for over a month now, but Collinson are super tight lipped about it. I’ve tried several times recently in various ‘guises’ but they won’t bite.
Article says it’s the same PCR test the NHS uses. All we got for now.
Oops, should read,
Out of past 8 trading days, 6 of them were blue.