RE: SP8 Mar 2022 11:44
I'm on II and I have bought another 5k this morning in two tranches...
Its not easy...I set a FoK at one point but the price went above my limit so I had to back off, but eventually got them at a lower price by waiting and then refreshing 20/30 times...
Currently 10k with a 191 average...also have POG at 1.55, but shelled out of EVR for the time being at breakeven...
As many have said, you can get an instant quote for any size to sell, but not to buy...
My theory is that institutions are still unloading steadily because they have to, e.g. tracker funds...
That means shares are coming onto the market, and I also thin k there are big buyer(s), which doesn't help us, because its administratively easier for MMs to sell in one big parcel rather than small lots...
Also the SP is moving so rapidly because of so many small deals that it may be impacting the ability for even the electronic system to quote prices. On more than one occasion I've clicked to buy only to find the transaction not confirmed but I have been able to buy immediately after. These are probably because the price has moved and can no longer be guaranteed...
So, all in all, I think it is best to take the long view, which I agree should be several multiples of this;
Decide on your firm limit in terms of total size and target average price and stick to that, rather than be siucked in...
I averaged down from a starting point of 219p so when this pops above 200p again I shall have to decide whether to sell some or hold for the ride, because I expect the SP to remain volatile...
Hope this helps...