RE: Confused31 May 2022 20:34
Hello Simx, firstly all mm's had big buy orders at 305-307 when the price started to drop, one mm was selling and buying at the same price for small amounts pretty much most of the day, i watched the tape and could see these orders by size as they were small and for odd numbers like 267 shares, they where not attributed to moving the price (white in colour) i also tried to calculate mutiples of these amounts but couldnt, but i have no doubt this was what they call an iceberg order, chipping away at it with small amounts which by having the same price on both sides of the book made it hard to see if it was a buy or sell, the price dropped though so i think we can take that as big sell order. Because these orders where the same value who would know without thorough investigation if they were really sells rather than buys or unknowns? Its in the interest of mm's to get the best price even when selling so they wouldnt want to drop the price with big sells orders. You cant really go by the end of days sales as depending on the time the order gets put through can label that trade incorrectly as the price has already moved. Big orders can be spilt in multiples, the first price is agreed, first chunk goes through as unknown (white) to stop the order having a negative effect on the price, the second or third can then go through at the same price or better if processed in the same time frame without it being questioned.
Im trying to learn all the tricks at hiding orders, its hard espcially on a share like rmg as it moves fast when there is momentum and quick moves, numebrs and orders jumping all over the place, the biggest orders though today where those limit buys just below the close price, be interesting if they put those back on again tomorrow.
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