Axiom European Financial... Share Discussion Threads

[quotes_4_u] 05/7/2007 17:44

Quite simple knowing.

4.3 mil market cap.

Made over 600k pre-tax last year.

New contracts this year.

Positive Agm statement.

And they paid .3p dividend last year, if at least repeated it's
yields at 7.5p offer 4%, not many tiny penny stocks do that.

[knowing] 05/7/2007 17:38

Still waiting !

[quotes_4_u] 05/7/2007 15:15

Typical mm's, drop it on every sale for weeks, drop it again on
no sales today, over 45k bought and no movement up.

No signs of a overhang as the quote sizes quickly changed on those
buys including mine...currently 37.5k both ways.

[quotes_4_u] 05/7/2007 12:45

Topped up with 10k at 7.34p.

What a cracking price considering after the recent Agm it was
9-9.5p.

Would like to buy more but got a lot of open positions elsewhere
so funds a little tight.

[qazwsx123] 05/7/2007 11:30

Afternoon all.

Looks like AXI heading back to 6p imo.

[quotes_4_u] 04/7/2007 23:51

Ok knowing but i'm sure if you read through the last 100 posts
you will get the general picture.

If not i will update tomorrow.

[knowing] 04/7/2007 23:40

I can and have but would also appreciate your comments.

TIA

[quotes_4_u] 04/7/2007 23:39

I'm sure you can do your own research knowing.

If you do want more then ask me tomorrow morning please.

[knowing] 04/7/2007 19:14

What can you tell me about them quotes ?

[quotes_4_u] 04/7/2007 19:08

This is getting very cheap again.

When the offer was 8.25p a while back somebody 450k at 9.5p.

Still stale holders dripping out of the stock and each 25k
seems to knock the price down a quarter, would imagine it's
now 7.5p to buy which i thought was long gone.

Guess i'm left holding the baby because most on here who claim
to hold are long gone, still it's a very good stock so drops
will be .25p here and there but when it comes the time for it's
usual jump that will be 1p+.

[quotes_4_u] 29/6/2007 12:37

I take it you took your profits azalea ~?

[azalea] 29/6/2007 12:36

To a large extent MM are focused on making money their on the spread. Within that framework they nevertheless react to newsflow and resulting PI buy/sell responses - not wanting to get caught out either way. What the 'City' is now looking for is the large transport orders being translated into profits on the bottom line. Until then,in the absence of further news and/or buying/selling, I suspect the share price will tread water.

[quotes_4_u] 29/6/2007 11:30

Merlin...agree they are looking for a support level as each sale
gradully lowers the price.

I've bought at 6.4p, sold some at 8.38p, bought them all back for 8.2p
and bought more at 9.22p so you cant knock my lack of faith, at least
i get a good divi if the shares are on a paper loss.

I'm just watching to see the next move, i dont like to get over heavy
with one stock thesedays.

[merlin magia] 29/6/2007 11:25

But surely it is us who determine the price. As Azalea says - if they mark it down and you believe in the stock - buy some more. Presumably the mms are not interested in news flow or company fundamentals. They are purely reacting to buys and sells. In that case it would be a lack of interest from investors that causes the price to fall, not mms playing games.

[quotes_4_u] 29/6/2007 11:20

Merlin.

It's the market, there's been a steady stream of people selling up
in Axi and the mm's of course know this, when support eventually arrives
they will all move up again together, it works both ways.

Azalea.

I would have thought recent newsflow was enough to justify the price
rise and not the current fall.

Remember the company is only valued at approx 4.5 million.

[merlin magia] 29/6/2007 11:14

Sorry to harp back to these mms, but surely in a competitive marketplace there should be no opportunity to "rig" the market without colluding with each other, which I guess the FSA or whoever regulates them would love to know about.

If one mm marks the price down, presumably he wants to sell what he has, until he runs out at which point he puts his price up. If he is short of stock he puts his price up until he has enough on his books and then knocks his price down again. If while he is doing this no one else follows he won't get any business.

Or is this too simplistic? Does a mm have to carry a certain amount of stock at anyone time?

[azalea] 29/6/2007 11:07

I have recently been assured by my online dealer that when doing a manual trade it's always worth trying to trade within the indicated spread: if you don't ask, you don't get! MM can be a fickle lot, particularly on Fridays - battening down the hatches for an early finish. There is a general drift in sentiment and some smaller company stocks are getting msrked down on surprisingly little selling and overall volume. The other side of the coin being that if you believe in such a stock, it could be a buying opportunity. THe share price has had a fair run and the company now needs to show some of the fruits of its labour.

[quotes_4_u] 29/6/2007 10:20

Axi certainly is getting the brunt of the mm's here, more of them
mark down again, i would imagine a sale is yet to show but as normal
more than one mm is moving down.

This is getting very cheap but then the markets for penny stocks is
poor at present, but dont see why Axi should be this low after such
a positive Agm statement, i topped up at 9.22p that day and now you
can buy at 7.85p, with a progressive dividend i think this year they may
pay around 0.35-0.4p so that would make a yield of 5%.

Never average down in a bad stock but average down in a good one on
weakness ?

Probably will buy more today at some point, lets watch for a while first.

[quotes_4_u] 26/6/2007 16:52

"Are you saying that all mms enter a buy and sell price for each stock they deal in, and the one we see on the screen is the best one on offer?"

Yes

"When we put a deal through our brokers who decides which mm gets the deal if they are all quoting the same price?"

I assume it's the mm that is prepared to take the deal or give the best price.

"Presumably if there is more than one mm for each stock simple good old fashioned market forces should keep them honest. If one tries to drop the price and the rest don't follow suit he will be left out in the cold"

That's true but mm's tend to move like sheep, today is a good example, no sales
yet they all moved and some a few times.

Hoods is Hoodless Brennan, Wins is Winterfloods.

[merlin magia] 26/6/2007 16:11

Are you saying that all mms enter a buy and sell price for each stock they deal in, and the one we see on the screen is the best one on offer?

When we put a deal through our brokers who decides which mm gets the deal if they are all quoting the same price?

Presumably if there is more than one mm for each stock simple good old fashioned market forces should keep them honest. If one tries to drop the price and the rest don't follow suit he will be left out in the cold.

Sorry to show my ignorance but what are hoods and wins? I know it's bandit country out there - shouldn't Robin be robbing the rich (mms) to give to the poor (us)??

[quotes_4_u] 26/6/2007 15:19

Merlin.

Your first paragraph, not sure tbo, i always though it was just a
list of stocks they were mm's in, never really looked into it as
you get to see how many mm's when you look at L2 rather than going
to that page and scrolling down.

"Do you know how the prices that we see and can deal at actually get to our screens"

Well sites such as advfn and m o n e y a m pay the LSE a set amount and
then they try and sell this one to joe bloggs, the more people they can
get to subscribe the more money they will make.

" If there is more than one mm and one of them marks a share down and the rest don't, it would be nice to be able to buy off the low one and sell to the rest."

Well what you are saying there is you want the same perks as our greedy
market maker friends, dont we all !....hence why it's so easy for them
to make money, i wish i could buy Axi at 7.5p but i have to pay 8.25p
if i want more unless the price drops...the mm's have all the aces and
there's nothing we can do about it.

I thought many times about a "betfair" style exchange for shares where
people advertise what prices they would like to buy or sell a stock for
and if somebody else likes it they get matched up and both pay a fee, eg..
maybe somebody would sell axi at 7.875p mid price if it was available
but not 7.5p and i would like to buy at that price if available.

Of course this would leave thousands out of jobs because simply it's
a good idea and fair unlike the mm's who can manipulate prices whichever
way they feel.

All you ever see is the best price both ways, remember it's not always
the mm that is quoting the price that does the trade, hoods are on the
offer but if i buy it could well be wins who take it and move up to 7.75p
bid to try and match it up and make their profit.

[merlin magia] 26/6/2007 14:52

Thanks quotes_4_u. Can you enlighten me further? The firms at the bottom of the financials are listed as brokers. When you click on them they list the shares they deal in and the activity - which seems to be either blank, market maker or committed principle. What is all that about?

Do you know how the prices that we see and can deal at actually get to our screens? If there is more than one mm and one of them marks a share down and the rest don't, it would be nice to be able to buy off the low one and sell to the rest. I know bid offer spreads and dealing costs would get in the way, but I would like to understand how the mms conspire together to give us one price.

With regard to this company, I can't agree more with you. It appears to be one of the few small cap shares that has current rather than anticipated value.

[quotes_4_u] 26/6/2007 14:08

I'm thinking of starting a new thread Merlin because i think i'm
the only holder here on this thread.

Anyway :

To find out how many mm's in each stock click the "financials" tab of
that stock and a list of mm's in that stock will show at the bottom.
I would guess the average is 4-5 per stock.
All ordinary trades will be through mm's, any B trades (Broker to Broker)
and x trades (cross trades) are non market maker trades.

Dont know the answer to no2.

mm's can manipulate the price any way they want, like today they have all
dropped yet there was not one sale, the 7k came after the drop, big attempt
to get cheap stock but so far it's not working.

Given the growth, profits and high yield which is rare for a small cap
aim stock the price should at some point retest highs but this is a real
desperate day on the small cap markets, nobody wants to part with their money.

[merlin magia] 26/6/2007 13:57

Following the discussions above re multiple screen names I dread to think what you will make of a new impostor on the board! Suffice it to say I really am new to this site and board and since I have yet to filter anyone out, would like the benefit of your collective wisdom.

I am a member of an investment club that holds Axi among other shares, and we have recently been discussing the role of market makers. There are a number of posts re mms above so I thought this might be a good place to find out a few answers as follows:

1. Are all trades done through mms? I thought at least in larger companies the process was automated.

2. Presumably mms are regulated by the FSA? Does anyone have any info on what their obligations are?

3. How many mms are there for a typical AIM company? Where can I find that information out?

[pedrojack] 26/6/2007 13:25

QAZWSX123...If these go sub 5pence I will fill my boots with them...