Anglo Asian Mining Share Discussion Threads

[jbravo2] 19/9/2017 09:44

The timing of the auctions is simply down to the trading service AAZ is using.
SETSqx.
The auctions at 11am and 2pm are conducted in exactly the same manner as the others.

See London Stock Exchange and elsewhere for info. A bit pasted below.




"SETSqx (Stock Exchange Electronic Trading Service – quotes and crosses) is a trading service for securities less liquid than those traded on SETS.

SETSqx combines a periodic electronic auction book with standalone non-electronic quote driven market making. Electronic orders can be named or anonymous and for the indicated securities order book executions will be centrally cleared.

The auction uncrossings are scheduled to take place at 8am, 9am, 11am, 2pm and 4:35pm. An execution in the final auction will set the security’s closing price for the day and generate a Closing Price Crossing Session, which provides a further trading opportunity to execute business at the closing auction price.

There are 2 types of order book model for SETSqx depending on whether the security has registered market makers providing non-electronic quotes. The model in operation determines which Time in Forces are valid for the electronic orders and how these orders are publically displayed ahead of the scheduled uncrossing. Please see the SETSqx Factsheet for full details."

[mattjos] 19/9/2017 09:41

sportbilly .. read these two links. Should help

[sportbilly1976] 19/9/2017 09:35

Matt,

Thanks for your comments above, appreciated. Whilst I'm comfortable with my understanding of MM movements and also general order book trading, I would appreciate a bit further understanding of the auction process.

I must admit I always understood the opening/closing auctions, and also the 10% move triggered ones, but not necessarily why there is an 11am and 2/3pm ones?

Is it not a case of playing your cards late in the process too, trying to see other orders before placing your to try and get it settled? What purpose would signalling your buy/sell order for most of the 5 minute window?

Happy to chat further if the above doesn't make sense!

[basem1] 19/9/2017 09:35

Stalemate here at present ? No buyers/No sellers A bit of hot money to leave the party or not ?

[jbe81] 19/9/2017 08:02

No sign of the 100k in the auction this am? delayed trade to be published later or did I miss it..

[crazycoops] 19/9/2017 00:53

Or just buy, hold and enjoy life a little ??

[mattjos] 18/9/2017 23:45

if not sure ... average in over a period of days, is my suggestion. Might cost a few quid in dealing charges but, don't let that rule your buys.
Whoever has been keen to buy at 32p is certainly going to be keen, if the results give us a drop back to that level or lower.

AAZ regularly tends to drop on results & then recover & rise higher over following few trading sessions. Not to say it will do same this time as there are more eyes on it now but, it's been a very successful strategy for last 2 years.

Results are, by their nature, backward looking. None of us are expecting gang-buster figures this week so, it may well cause a little drop as a result of the uninformed / unaware selling some.
However, the market predominantly looks forward. Once the results are digested the short-term backward-looking stance will revert to its more usual forward-looking stance .. .with gold remaining over $1,300 & a huge amount of activity and news expected throughout Q4 here, I do not expect any such drop to last too long.

Any TA practitioners will have a bucket load of BUY-IF instructions set at 35p Bid right now as that will be the pattern confirmation but, the MM's ain't daft and neither are the Spread Bet providers .... I would expect the volume of BUY-IF orders will lock up the market.
I've seen Handles off Cups completes in just 3-5 trading sessions during a strong uptrend but, there is often a dip-back not long after as the initial buying frenzy dissipates.
Personally, I would look to keep your eyes peeled during the day but, also set some lower limit buys around the 30-32p level and hope to drop lucky.

It's finely balanced just now and I don't see the point in being coy about things .. plenty of folk watching this at present as the Flag counter on the thread shows.

Volume tends to drop away as the Handle develops ... understandably as folk wait for the confirmation signal.

Try to get amongst the buying on the declining volume or, wait for the pattern and fight the herd. It won't be easy either way, imo.

[sh0wmethemoney] 18/9/2017 23:21

Will be topping up my SIPP soon with some more, hopefully funds clear tomorrow from a transfer out of an old work pension fund. Guess the question is do I try and get in before the Interims are out if i can or wait for a pull back? Only 43 so they will be no rush to cash them in, tempted to top up ISA holding too, ummmm what to do.

[mattjos] 18/9/2017 22:20

nice of you to say bleepy. Thank you. Several here have been in/out for many, many years now. Terropol has been around since pre-IPO!
It would not have been good to see you shaken out bleepy .. you do regularly make great contributions on here so, I for one am happy to know that you did not let emotions get the better of you at that time and got back in.

It can be tough on the emotions during a re-trace .. the incessant drip, drip, drip, down .. one of the reasons why I try use charts to try and see where that might reasonably end but, believe me, I am just as likely as the next man to get the willies at times!
(I recall having a big position in a company called West China Cement in 2011 ... a fund was selling out after the stock had gone up 700% - for no rational reason other than their Holding had grown in value to such a size that it exceeded their own in-house rules & the fund manager in question was told to sell. Months and months it kept gradually dribbling down until at calendar year end he cleared out and the stock then went on to gain another 500% in the following 12 months! I met the find manager a few months later at the company AGM & he was not HP about having to sell but, he had a boss to obey. That's the thing about being a PI .. its your decision as to when to sell.
I compare stock positions to growing crops in the polytunnel :-) .. when you are thinning out the seedlings, do you throw away the biggest one to make room for the runts or, do you throw away the runts and give the biggest one more room to grow? From where are the biggest, juiciest fruits most likely to come later in the growing season? The vegetable competition winners will tell you to put all your resources and efforts into the early developers if you wan to win the prizes come harvest time!).

The traders have all come and gone here since 5p, 8p, 10p .. look at 'resourceful' ... he has left behind a huge paper profit for absolutely no good reason other than not having done the necessary research, not having the confidence in his initial decision and, frankly, not listening to the posters here. Probably lost it all on some other flight-of-fancy.

I am pretty sure that Reza is a decent sort .. he knows he raised money from the market at over 80p & I believe he has it in his mind to ensure that no one can say they lost money here, even if they bought & held from IPO.

[bleepy] 18/9/2017 21:40

I can certainly vouch for Mattjos' help and advice at the time as I stated on this board I had sold out at 10.7ish, only as the share price was dropping fast on news. It turned out to be fake news posted to spook investors allowing the mm's to tree shake. I had an average of 6.1p at the time so taking a decent profit. After matt's advice I rebought most of my holding at 1p dearer. An expensive lesson well learnt and not forgotten. I've been adding all the way since as funds allow and are more than happy for his help at the time. I can bear witness to the continuing smoke n mirrors from the mm's, after all they are there to make money. So thanks again Matt and just following this board I continue to benefit whilst adding a little from my own experience. Mattjos has impeccable discipline keeping this board clean and exposing those who attempt to subvert and I'm not talking contrarian views.

[mattjos] 18/9/2017 17:53

One of the things to do on a particular stock, assuming you are invested & outwith the necessary research, is to try and become familiar with how the order book & the MM's move day-to-day and week to week.For several of us here, after years of keeping tabs, it becomes almost predictable what will happen next. the smaller aimless movements are meaningless .. just the MM's jigging it about, fishing for business but, like now, there is clearly demand from several quarters for the stock & the trades are often disguised, shown late and other suck tricks to try and mask the underlying situation.The auction process here might take a bit of getting used to for some new investors but, feel free to ask & I am sure there will be answers / explanations freely given.

[basem1] 18/9/2017 16:53

Ok Thanks guys. Very informative. Most impressed by the calibre of posters on here.

[mattjos] 18/9/2017 16:50

that 50k at 33p was the buyer taking 50k off the seller in the closing auction .. hence the UT (Uncrossing Trade) classification.

100k left to shift now.

Wins moved away to 35p on the Offer (from 34p) and joined Cantor on Bid at 32p, three mins before at 16:27.

The stock is being taken up by the buyer & the 34p ceiling is weakening

[jbravo2] 18/9/2017 16:45

It was the result of the auction basem.
Cleared? Unlikely.
They were offering 150k earlier. It'll be interesting to see if the out of hours buyer gets to take any though.
Those trades usually pop up just after 5pm.
All very strong though.

[sportbilly1976] 18/9/2017 16:41

hopefully thats the seller Matt was commenting on earlier cleared now.

A few buyers from the bell tomorrow might force the MM's hands

[basem1] 18/9/2017 16:38

Can Mattjos or anyone explain the 50000 at 33 just now. I assume it's the auction and I'm trying to test the strength of the market for the stock. TIA.

[sportbilly1976] 18/9/2017 16:01

lol - someone managed to get a few :)

[mattjos] 18/9/2017 14:14

there's a seller signalling at 33p in the auctions and no corresponding buyer today .. see what happens at end of day auction.

Results do not generally reveal anything 'New' so to speak but, Bill's presence at the Proactive Investor event will, I believe, be extremely well received & should help with questions from new investors

[sportbilly1976] 18/9/2017 13:51

Matt,

Yep - they are also aware of the technical significance of breaking through 34p. Quite a few will have alerts set-up and until they're ready to facilitate the resulting buying they won't raise it

[mattjos] 18/9/2017 13:37

bit busy with another one today but, keeping en eye here also :-)

[mattjos] 18/9/2017 13:28

jbravo .. believe me. The MM's do as they please here at times. Time and again they have closed ranks and not offered anything when it suits them. ForK, Limit or even Market orders at times are all denied.
They are just trying to stonewall it on the order book at 34p and try to collect what they can and don't want it to move up as they know once it ticks up it brings about another fresh wave of buying

[sportbilly1976] 18/9/2017 13:14

EMS is 7,500? MM's cannot refuse a FoK buy entered whilst the share price is at 34p

* they can always move up

[jbravo2] 18/9/2017 13:05

Could now be the last few shares at 34p right now.
Can't get a quote to buy even 5,000 shares.
Can sell 50,000. They need your shares folks.
Do the generous thing. Make someone happy. Support your local MM.

[jbravo2] 18/9/2017 12:50

Wed-Fri last week saw 2.5m shares traded (including the volume from NEX). Big stuff, with a large buyer kicking it off with 250k buy.

A bit quieter today but still strong.

Will the volume from the auction be taken by PI's or will the after hours buyer hoover at the end of the day?
Typically the late buyer only gets handed substantial stock when its been a net selling day and that hasn't happened so far.
Still a few mug punters having their small amount of shares robbed.
Why don't they read the internet?

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