The Bushveld Perspective

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Trading Update – 6th Sept 2017

Trading really kicked off, with a couple of closely spaced 100K Sells at 8:26am and 8:27am – these were rapidly reversed within 8 minutes by big buys of 350K and 250K. A subsequent sell of 221K at 9:20am brought the nett trades figure back into the +200K/-200K band where it stayed for most of the day. As has been quite often the case in the last few weeks – there was a slight drop in the average trading price between 1 and 3pm – reflected in the drop in the Ask – however this was reversed by a 100K Buy at 3:01pm. Unlike previous days there were no Bed & ISA combined transactions identified during the day.

At 3:40pm there was another 100K Sell – and again this was rapidly taken up by a similarly sized buy within 2 minutes. It would appear that the 100k sellers are leading the action but these are being rapidly reacted to by a similarly capable Buyer or Buyers. All of this happens without any change in the Bid or the Ask – so how does the Buyer(s) know when to act ? Perhaps they are known to the market makers and are tipped off when the MMs have just got shares to sell. Or a Buyer with deep pockets is watching the level 2 screens like a hawk…

Nett trade neutrality appeared to be restored within minutes of the end of trading – certainly that was how it looked on the day. However after hours trades, reported on thursday the 7th, again rapidly absorbed the last minute Sell. This time it cannot be a Buyer who was sitting waiting to make a trade – instead the Market Makers appear to know of a Buyer who can respond rapidly to pick up the shares that the Seller or Sellers deposited into the market only a few minutes earlier – and they give them the opportunity to do this after normal trading has finished.

The SP finished flat at 10.0p, as it did for the previous two days, on a volume of 2.7M trades, down slightly (1.5M Buys, 1.22M Sells).

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