The Bushveld Perspective

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Trading Update – 24th Oct 2017

Tuesday 24th October 2017

Tuesday trading started out at about the same pace as the end of the previous day. By 2pm only 130K shares had been traded.

Evidently the MMs thought ‘enough of this, let’s shake things up’. Naturally they dare not raise the Bid unless there are hungry buyers beating their door down, so what else might they do  ? – they can only do the opposite – have a cut price sale and give shares away. We may of course see delayed trades that explain why the Ask fell twice after 2:30pm – these may be genuine PI sells, or simply MM rebalancing trades, but if we don’t then this is simply a classic attempt to encourage trading. It’s just the same in the high street.

Either way – what happened as a result was predictable – there were very happy buyers ready to snap up these discount shares (each one of course now coming with a free Afritin share thrown in) with over 500,000 shares being bought between about half past three and quarter past four. A couple of curiously priced ‘Sells’ at 4:14 and 4:15pm knocked the nett share trades back down to around plus 300K.

So a good day to get a bargain. One might expect the SP to increase when you have more Buys than Sells – evidently not with Market Makers who feel the need to to give away shares at cut prices. With a strong run of significant news in the offing I suspect they may struggle to persuade anyone to sell them the shares they will need to deliver within weeks.

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

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Thank you for visiting the Bushveld Perspective, an archive of opinions from many private investors and commentators on the subject of Bushveld Minerals, which it is completely independent from.

The Bushveld Perspective holds no responsibility for your investment decisions and information written should not be relied upon in completing specific transactions. In particular the content does not constitute professional, financial or investment advice & must not be used as a basis for making investment decisions.

The content only conveys the personal opinions of our contributors. Whilst every effort is made to ensure the content is accurate, we cannot guarantee the accuracy of the data shown. 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.

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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