Trading Analysis - 3rd Oct 2018


3 October 2018


Underbid auction trades at both 8am and 9am ('UT' trades marked in green) as explained here again remind us that the market is being manipulated to try and drive the SP down.

There are very few Sells but despite persistant buying the volumes do not yet appear to be up to the level that the Market Makers would like - hence they cut the price at a quarter past 10 - an opportunity for a cheap top-up if you have cash available.

End of Day    

Underbid auction trades again at 11am and then most outrageously at the end of day auction (1 share traded !) - whoever did this has achieved one of their goals in that we are all talking about it, but failed to appreciate that we all understand what kind of manipulation is being attempted in front of us.

Two sets of Bed and ISA/breakfast trades - the first at 11:30 and the second just before the close of trading, remove 4 apparent sells from the overall impression of selling - this leaves only the 410K Sell at 10:12 and two quite small trades just after the 11am UT as being the only Sells that were really close to the advertised Bid. Mr 410K may rue that decision as the remaining strike in selling means that it was only his Sell that allowed the Market Makers to acquire their meagre nett haul of 130K more shares today. 

The walk-down does not appear to be working to allow them to acquire cheap shares and we may see some fun and games tomorrow as they perhaps try to loosen up a few of the weaker holders with a tree-shake or two. One thing is for sure and that is that Knuttie won't help them out by bailing on his T20's.

By my reckoning the MMs are quite close to being balanced on their nett holding - not significantly long or short - thus they have an option - keep the SP where it is where the selling has dried up or raise it to allow some trading volumes to return. At this stage the buying pressure is not great enough to force them to do the latter - as they are not, at present, being punished sufficiently enough by heavy buying on their manufactured drops.

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