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[kooba] 16/6/2022 20:19

Calling someone a coward ..when you are on a bulletin board using an avatar ..that's funny. Very much like kemche's posts..gotta take down pomposity when you can , keep up the good work.

[kooba] 16/6/2022 20:14

No natural decent size buyers all the way down over weeks ..awful day in the market and suddenly buyers for 600k in the space of 10 minutes at a small discount to closing two way.Normal? Where the hell did they pop up from exactly.

[kemche] 16/6/2022 20:14

Passover possibly?

[kemche] 16/6/2022 20:10

Barry being large again I see. Can you not just give it a rest?
Let me guess - it was HNW aggregators. No, smaller IIs. No, smaller hedge funds. All advised by your good self no doubt.

Sheesh!

[kooba] 16/6/2022 20:09

Odd it is.

[echoridge] 16/6/2022 20:06

oh my dear god, please tell me you're joking. Please tell me you're purposely trying to wind me up and waste space on this board. Please tell me something that helps explain why you would seemingly intentionally ignore what i've written just so you could have yet another stab at trying to get one up on me because your ego is so hideously twisted you simply cannot stand to ever be 'told' anything, to have anything 'explained' to you?!? I never said this was 'normal or everyday' per se. Of course this name has not traded this kind of volume in the fixing in living memory. I couldn't have been clearer: this isn't normal except for the fact that THE MARKET ITSELF ISN'T NORMAL at present. I wrote time and again that in such grinding bear markets, on a particularly sharp selloff/crash, THEN what you saw today, including the big offer in the fixing, becomes all too predictable. Please. Enough already.

[kooba] 16/6/2022 19:49

Question..when was the last time they auctioned in this size..making it an ordinary everyday event.

[kooba] 16/6/2022 19:48

Yep being serious..your supposition doesn't make sense and you present anything you make up as fact..it really is bizarre. I didn't even say institution ..i said institutional size as it goes.Anyone can guess a scenario..including me..I just don't present theories as facts and have to explain why other theories or opinions are wrong when I have zero way of standing them up.

[echoridge] 16/6/2022 19:42

Seriously, are you kidding with this stuff? kooba, you are a clever guy, but honestly this is getting ridiculous.

[kooba] 16/6/2022 19:40

"For instance, seller could have had say 800k to go over the day with a broker. By 4pm or so, if only 2/300k had been done, where the seller on a 'normal' day may have told the broker to work the balance tomorrow, in this kind of market its very possible the seller may have panicked and just told his broker that he wanted to be done today no matter what. In that case, the broker may well have decided his best option would be to put the balance of 1/2m in the auction and make as many potential buyers aware of it as possible so they could work any buying interest in the auction."So where's the print out in the 800k to the client??

[kooba] 16/6/2022 19:37

..there are dozens and dozens of HNWs with positions that size in names like this.Where do you get this from..dozens and dozens of private individuals with 800,000 of shares in one small tech co. Have they held them all the way down..certainly no evidence of decent buying recently. They won't be high net worth for long at this rate!

[echoridge] 16/6/2022 19:34

yeah, its pretty obvious you're annoyed. Otherwise, fact remains that there was nothing odd, unusual or out of the ordinary. Just standard behaviour in terrible markets. Read my posts and you'll see everything is in there.

[kooba] 16/6/2022 19:27

Please don't "explain" to me ..you are just guessing..I am merely saying it's odd..when was the last auction in this size? To make it sound an everyday event is simply not true.Once again no one is allowed an opinion without you explaining they are wrong for whatever reason you decide on a whim. The idea you proposed that they had done several hundred during the day then pushed the rest into auction..where are the prints supporting that? I don't mind guessing it's the "explaining" which is annoying.

[echoridge] 16/6/2022 19:20

That's fine but I'm trying to explain it simply is not odd. And there are dozens and dozens of HNWs with positions that size in names like this. One of them could well be on margin and cutting. This is very much standard behaviour in this kind of market.

[kooba] 16/6/2022 19:10

You didn't ..my presumption. There's not many even high net worths with that kind of individual holding in a small cap ..and maybe not many who would have held it all the way down and panicked in the auction. ..unless of course they were on margin and closed out , in which case there would have been earlier substantial pressure I guess if call had not been met. I think it's odd ..that's all.

[echoridge] 16/6/2022 18:47

By the way, I don't remember saying it was an institution. If I did, that was sloppy. Could just as easily, or perhaps more likely, been a high net worth individual.

[echoridge] 16/6/2022 18:31

I''m not sure I understand the comment about horrible or not. Anyway, that's what happened. Nothing unusual just panicky markets. Professionalism goes out the window at times like this. 'Just raise me the cash' is all that matters sometimes.

[kooba] 16/6/2022 18:23

Horrible would have been low 30's if your theory makes sense..though having worked in markets for many a year you don't normally see institutional size orders panicking into the close and exposing size like that ..rather unprofessional and can destroy the market and get little done. Finding buyers a penny below prevailing is surprising in this size ..and with this market.

[echoridge] 16/6/2022 18:18

But you're right about the price, kooba. No matter how weak the shares had been today, the fact that the clearing price on such a big block being 'just' 1/2p below the prevailing price going into the auction, was indeed a (small) positive.

[echoridge] 16/6/2022 18:09

Its a terrible day in a grinding bear market. In such circumstances, it just isn't that unusual. Any number of possible explanations. For instance, seller could have had say 800k to go over the day with a broker. By 4pm or so, if only 2/300k had been done, where the seller on a 'normal' day may have told the broker to work the balance tomorrow, in this kind of market its very possible the seller may have panicked and just told his broker that he wanted to be done today no matter what. In that case, the broker may well have decided his best option would be to put the balance of 1/2m in the auction and make as many potential buyers aware of it as possible so they could work any buying interest in the auction. Horrible for us but far from suspicious

[kooba] 16/6/2022 17:32

I have to say the auction is odd...200k traded all day then seller loads up short 600k into low 30's into the auction thats not normal. Surprised buyers in that size were there at only a small discount to be frank.

[fse] 16/6/2022 17:04

Indeed Kooba you can add Soros view ... buy when the wolf is at the door.
My own view is that the difference between boom or bust is determined by the rate of flow/spin of capital.
In spite of the doom and gloom there is now a large pile of cash in the system sitting dormant and I expect it will become more pronounced.
Covid Lock downs were very expensive and would always have to be paid for, essentially Governments borrowed against future revenue. Then we get a would be Peter the Great Clone gone berserk.
Back to the garden.

[echoridge] 16/6/2022 17:03

fwiw (which isn't much clearly), the initial clearing price was around 31.25p. It moved up to 33.75p as more buyers came into the auction to clear the seller. Awful awful awful but not quite as bad as it might have been.

[echoridge] 16/6/2022 16:56

nothing weird about the 500k sale in the auction. just someone cutting who can't take the decline anymore and choosing to do it on one of the worst possible days for liquidity imaginable. I tried to buy a few but put my bid in too late. However, I do know one buyer who got a piece of the block and he/she clearly had some company on the buy side as they clearly didn't buy the whole thing.