The Bushveld Perspective

Independent perspectives on Bushveld Minerals by private investors, for private investors.

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Trading Analysis 16th Jan 2018

Much tighter spreads today initially made distinction between Buys and Sells difficult but a number of disclosures by Long Term holders (and a few newer holders) allowed the complete trading pattern to be unpicked as shown below. The end day balance of Buys (1.99M)  vs Sells (596K) left the MMs trading position fall further short by another c. 1.4M shares. Their accumulated nett trading position now ends up at 2.78M short, though from the behaviour of the Bid and Ask today there is the suggestion ...

Trading Analysis – 15th Jan 2018

In this weekend's article on the previous months trading we explored the possibility that previous end day duplicated trades resulted from a PI sell plus an Inter-MM transfer and subsequently predicted that the Market Maker nett trade position had just moved from short to long so now we would see SP appreciation. This morning's SP price rise of c. 5% is further supporting evidence for this explanation - now the MMs are long they are happy to see the SP rise. The detailed trade analysis ...

8th to 12th Jan 2018

There are two interesting aspects to trading in the last 3 weeks: The appearance, since the 19th of December of significant End Day Trade pairs - these are inexplicably duplicates of one another but appear at different times implying that they are genuinely distinct trades and not simply a LSE misreporting. The appearance of a 5.4M trade late in the afternoon on Friday the 12 Jan, around which time the prices paid for shares appeared to rise sharply, but which had no actual ...

From the 19th Dec to the 5th of Jan

The 19th of December saw the first recent appearance of what I believe are end of day sells - we saw something similar in early November when Wessy was closing his spreadbet long position and the spreadbet company needed to sell 4.5M shares into the market. The shot of the trade log below shows an example of an end of day trade - here for yesterday's trading, friday the 5th Jan. In both situations strong PI buying during the day has led to a ...

19th December 2017 – A shorting armageddon ?

Update I have received an email from a PI explaining that the 500K trade at 8.70p (12:50:59) was actually their BUY. But how on earth did they manage to buy at this price ? The answer is that the trade was a initially a set up before the noon as a limit buy of 500K at 8.40p - half of this was filled at this price, but following the price rises after 11:45 the second half could only be completed at 9.00p. ...

Trading Analysis – 14th Dec 2017

Regular Buying, 100K Bed and ISA at 8:51 (PI confirmed), prices paid for Sells steadily rising, accumulated nett trades reach c. 900K at the end of the day yet the apparent SP falls by 0.125p. Overall the Market Makers are now short by c. 3M shares - the tactics have not been working so far, the lower they try and push the price the more in a hole they get. The old (not that old actually - it may only date back ...

 

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