We would love to hear your thoughts about our site and services, please take our survey here.
Does anyone really believe there is an exciting RNS due next week? Most investors (quite sensibly) think there will be a rise when the LP is finally issued and the company can start to make income. If that news is due shortly then why would any company issue another 19% shares at 2.5p when the price is 4p and about to rise significantly? That would be crazy as they would not have diluted existing shareholders so much if they had waited a few days. No - there is no imminent LP/RNS/good news on the horizon. I will be dialled in to the AGM at 0800 next Friday and will try to get MB to spit it out but he is pretty good at running circles around his army of small shareholders. Don't hold your breath!
Does everyone here really believe that MMs play these games and hold stock (long or short). I used to work for a big firm (I was Head of IT) and know the systems well. The MMs I know are looking to make a 'turn' and that is the spread. If investors sell to them at 7.9 and buy at 8.0 then they make a turn or profit. In general they will close their book every day with a zero position in the trading book and are not subject to wild P&L issues when prices move. If you really believe that they know more about this than most investors then you are probably dreaming or suffering from wishful thinking. There is a little scope encourage buyers and sellers but only a little and they can easily get their fingers burned.
If you really don't believe me then try and talk to someone who does it for a living and see how they actually make money.
thanks for the info! Looks like this thread should be titled Sellers Ready! Strange how someone with over 18,000 posts here that is paying for L2 data seems to confuse sellers with buyers? I must be missing something!
can someone please explain this to me? I thought the L2 order book showed waiting buyers at low prices (eg I want to buy if price drops to x) and sellers high (eg I will sell if price gets as high as y). So showing a list of high orders is showing a list of willing sellers - not buyers in waiting. Is this me being thick or is the comment just wrong?
For those who do not know you have to pay for live data.
The delayed prices on here are free - so you see prices and trades from 15 mins ago.
There are lots of places to buy more data but on here there are 4 levels.
The Premium service (£110pa) gives more trade and RNS info
The Live service (£176pa) gives live prices
The Level 2 service (£264pa) shows the order book. This is the most useful as you can see what orders are waiting with each broker to be executed. Say you want to sell 100,000 at 15p - you can place a limit order with your broker. It will show up on the L2 order book and can execute if the price gets there. So you can see who is waiting to buy at lower prices and sell at higher prices. This gives you a lot of valuable real time information. It is quite a disadvantage not being able to see it. They also have a L2 Professional service with even more useful data.
So, in summary, the most useful info is live prices and sight of the L2 order book and it will cost you £264 pa on LSE - other people have different prices but they all have to buy it in and it does not vary much!
You may think you can make that back by getting a better deal on a couple of trades so a lot of people do pay for it.
To be honest I do not smell a placing as I believe the board (who are heavily incentivised with shares) are making confident noises so why give away shares at a lower price? On the other hand I know other long term holders who feel they have seen this pattern before when placings followed. I don't think it will happen this time as the COS is very good and a find will transform fortunes. We will know a lot more in 4 weeks.
Given the mud pump seems to be ready it is about 5 days work to erect the rig. Once up and running I would expect a couple of days to spud and then they start to drill the hole. PM has already said how long the actual drilling will take. So it is reasonable to assume we will hear about rig installation and spudding soon and certainly next week sometime. Fingers crossed. Tom 2101 - a very LTH