Trading Update – 4th Sept 2017


5 September 2017

Trades Reported Late

Reported at approx 2:30pm on 5th Sept – 11:11am – 519K trade at 10p – this would appear to be a significant Buy.

This would make an excess of Buys over Sells for the day of over 720K –  which seems unreasonable gives the drop in SP thus we might expect to see more delayed trades for the 4th Sept.

Monday 4th Sept 2017

Trading appeared to start rather slowly – with only some sells in a tight band around 10.1p  showing. These were offset by a 216K buy at 8:15am that was reported exactly 2 hours later. The prices paid appeared to drop as low as 10.0p at 9:24am – but this and the subsequent 200K trade were later confirmed by a LTH as a Bed & ISA combined trade. A similar Bed & ISA trade appeared at 11:09am – also at deceptively low prices.

By this point it appeared that there had been only about 100K more Sells than Buys – trading was well balanced yet the Ask dropped. 6 minutes later at 11:15 and 11:16 there appeared sells of 100K which increased the excess of sells to approximately 300K – strange how the behaviour of the Ask managed to presage what was to happen in the trading. With buyers able to pick up shares at only 10p until about noon Buys soon exceeded Sells – reaching an excess of 150K just before 1 ‘clock with a (delayed by 3 hours this time) Buy of 250K at 10.19p.

Things appeared to quieten down and not much happened until a quarter past 3 in the afternoon – when there is an interesting sequence of large trades, all of course reported late. At 3:15 there was a sell of 250K, followed 5 minutes later by another sell of 50K. These were rapidly absorbed by two 245K Buys at 3:22pm – and trade balance was restored 20 minutes later with another sell of 200K. So 500K sells and 490K buys all behind the scenes in less than half an hour- seems like a Big buyer may be getting some help from the Market Makers – evidently they are happy to quickly step in and take whatever the market throws at it – with no impact whatsoever on the Bid or Ask. Earlier in the day the Ask was dropped purely on an excess of 100K sells – now nothing happens when there is an excess of 300K sells – evidently the Market Makers know who to go to when they need someone to Buy shares. Short sellers take note.

At the end of the day the SP ended at 10.0p down 2.4% on the day, on a volume of 4.4M (2.3M Buys, 2.1M sells).

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