16th Feb 2018
16 February 2018
Trading was quiet at the start, following the pattern of the previous day when it seemed that the MMs blocked anything from happening in the first hour. This was on the announcement that SA president Zuma had resigned and Cyril Ramaphosa would be taking over.
At 10:22 Aim_Chaos reported that he would be rebuilding his position in BMN and had already acquired 800K during the morning. The 550K trade at just after 8:30am evidently had not passed everyone by before this disclosure as 8.90p had already been paid twice before Aim_Chaos popped up on the LSE board.
Volume clearly picked up after this with an excess of more than 1.1M more Buys than Sells appearing before noon. Total volume was already 3.4M by this time, despite the SP appearing to have fallen from the unreasonably high 8.96p closing auction trade of the previous day.
This article only conveys the personal opinion of the author. Whilst every effort is made to ensure the content is accurate, we cannot guarantee the accuracy of the data shown. This article does not constitute professional, financial or investment advice and must not be used as a basis for making investment decisions.
Site content is not authorised by the FCA and you are not safeguarded by the Investor Protection measures of the Financial Services and Markets Act 2000. See our full disclaimer