The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
I bought some at 1.82.9p on Thursday as a quick turnaround as I thought it may go to 1.95p short term. This morning it was possible to get a firm electronic price so I didn't sell at 2.40p plus as I knew this would happen. Lots of people press that sell button and then the MMs sting them over the next 30 mins at 2.20p and below. I dont trade anymore unless I get a firm price as the MMs seem to use this option to sting buyers and sellers.
I have stayed on the sidelines for the last few days wondering where the bottom may be. Its hard to predict but I'm happy to top up at this level. If someone is selling in the background because the time frame is too long for them then thats to my benefit. It may go lower but I think I can cope with that. I'm buying as this is fantastic value and I'm buying a few to make 25%. I have a long term holding that won't be touched.
The sad thing is that a lot of weak holders have been relieved of their shares.
The good news for all those still here is that we have a few new stronger holders as they came in at a different entry level. I imagine a few topped up too. Getting rid of a few weak holders can only be good news for those that are still here.
There will be further comments today and over the next few days by professionals in the know reiterating what an excellent discovery this is and the SP will react accordingly. A few punters being robbed their holdings at the moment. This isn't the first and it won't be the last.
Look at the bigger picture here, go away from your screens and then come back later and think what was all that about
By dropping the SP today the MM's made a market and over 100 million shares were traded. We are around where we started this morning. If the MM's had left the SP as it was all day we would have had around 20 million traded. Nothing has changed with GGP as many on here suggested but some weaker holders have cashed in probably for a good profit and we have some new holders whilst others have topped up.
The MM's go home in the knowledge they have their pound of flesh and we all chat about what may have changed with GGP.
Tomorrow is another day. No news then the MMs will play on punters fears as this is aim.
TomE
All views and differing opinions need to be respected. Everyone has a different agenda, some long, some on the sidelines wanting to buy in, some sold and want to buy a few back. Opinions are opinions and its good to hear all points of view. However the Hat guy is a tool.
I'm long have been for a while and hope for good news soon. I have been here a long time and seen quite a few ups and downs. I hope to offload over the next 2-3 years if it plays out that far up to 10p, 20p, 50p who knows. It could go all tits up, it has done before so who knows but things do seem a little different this time.
Good luck to all holders, to the rest your opinions are welcome and although I don't wish you good luck it's good to be open to different opinions to mine.
All the sells are being taken and still the stock rises. All the signs suggest there is another big buyer accumulating now for much bigger potential gains over the next few months.
I was right about Primus. They are either accumulating more or there is another buyer, simples.
Howabouthat
Back in June I had 1.6 million and made a typo by writing it as 16000000. I have never had 16 million shares and If I had I probably wouldn't bother being on a BB, as I'm sure I'd be chatting to my broker. Can't really be bothered with your arsey comments. If you disagree with any of my comments, fine say so but otherwise
How about that you jog on pal
I have been building a stake for the last 5 years aandi
I haven't bought any today but it was obvious from watching the trades that the MMs wanted shares. As the selling went on the bid didn't drop. There has to be buyers and sellers to create a market. I thought the buyer was at 1.90p so I was very close.