Carter & Carter Share Discussion Threads

[digger27] 13/9/2007 11:43

Maybe they are looking for a top quality person? Having said that the likes of you or I could balls things up just as well as some of these high fliers!!

[references] 13/9/2007 11:10

It's a shame this CEO replacement is taking so long. It gives the impression no decent people want the job. However did I read that they were down to a shortlist of 3?

[v01101999] 12/9/2007 15:02

there is another theory (from reliable sources...) a lot of trading houses are now going for "black box" "algorithmic" trading. Such trades can be done by these black boxes to trade on live prices with low volume. So if you think you have a winning trading strategy which works for illiquid/recovery stock etc and it has passed all the back test and simulation test etc, this is one way you can put it to final live test before switching it on fully. All you will loose is £2,000 (MAX) and trade reporting costs to LSE/brokerage etc.

If this is the case, there is nothing specific about these trades and we should best ignore them. The system chooses which stocks to trade (bases upon some pre-set quantitative criteria) and generates trades based upon a pre-set strategy (during test you would tweak max trade size to 50 or 30 or 25) .. It might be worthwhile to see if some other stocks are reporting such small VW trades.

[musashi san] 12/9/2007 15:01

Got a feelig this could drop back and test the £1 level before going higher...

[bronking] 12/9/2007 14:01

there you go,

someone's either very stupid or...

[bronking] 12/9/2007 13:54

another vw trade should be at time 13:59:59

[jane seymour] 12/9/2007 13:50

At under 2,000 shares a time it would hardly seem worthwhile, it would also be surprising to see any 'blow' short term as daily voumes seem to be waning this month.

[bronking] 12/9/2007 13:41

optimistic view,

could it be that these shares are about to blow big time and somebody is attempting a buy a little time to get financially set for take off by keeping price movement to a minimum so as not to attract buyers until they can get in first,

or am i being toooo optimistic,

but surely somethings going on

[v01101999] 12/9/2007 13:17

someone is trading about 30/35 shares every 10 minutes on volume weighted average price basis (buying or selling cannot say). Given 8.5 hours of trading day and would give you 6 * 8.5 * 35 = 1785 shares. Why bother with all the hassel of VW trades and reporting for such volume! I trade 5 to 6 times more than that in a single trade and I consider myself a small size trader. These trades are creating more confusion than anything else. Typically VWAP orders to brokers are -> buy/sell X% of traded volume every 10/15/30/60 minutes at VWAP price OR buy/sell X shares every 10/15/30/60 minutes at VWAP price. These are typically used by Funds or large position traders who want to trade at market average prices and not to disturb the market with their large orders. I do not understand why someone is bothering with VW trades for a daily volume of 2,000 shares?

[patricktrfc] 12/9/2007 12:05

Afternoon Bronking

Just got back in at 109 on a T20 - as ever looking for a quick spike / good news getting to 130ish.

P

[bronking] 12/9/2007 12:01

HHHHHEEEEEELLLLLLLOOOOOOOOOO

is their anybody there

[musashi san] 12/9/2007 12:00

Still seems to be resistance around 111p.

[bronking] 12/9/2007 11:56

any oppinions on todays trading activity greatly recieved,

somethings going on why so many volume weighted trades, blocks of 36 buy/sell seem to be the favourite mm number at the mo.

and the share price is creaping up slowly, so do the mm's want your shares for someone.

[crosswire] 12/9/2007 10:51

What's with the VW trades today?

[crosswire] 12/9/2007 09:52

L2:

5000@ 107p vs 193@ 108.75p

[bronking] 12/9/2007 09:34

anybody got level2 for info

[briannewby] 12/9/2007 09:31

smelgy - yep, depending on forward guidance at the results + CEO appointment, that could be attractive....

[smelgy] 12/9/2007 09:26

.......very strange trading pattern this morning. In answer to Briannewby - I don't think investors here would blanch at a discounted rights issue. Say 1 for 3 around 90p would be fine. Of course the whole picture will change for the better if CART announce a couple of contract wins.

[briannewby] 12/9/2007 09:23

bronking - please see reply to my query below from v01101999 concerning the loan share figure

v01101999 - 6 Sep'07 - 15:02 - 5685 of 5716


Briannewby - 6 Sep'07 - 14:32 - 5681 of 5684

Over last two/three weeks, I am beginning to firm up opinion that short positions/stock on loan is being built by professional players (and not small time PIs) in anticipation of placement below market level sometime in future. Who knows, even the banks which are discussing the debt levels, their investment banking deparments are building up such positions while their lending department pressure the company into placing shares/raising equity to cover the debt covenants.

Now it is a big and decent gamble either way and it seems to be a big time gamble.

If the company manages to raise equity at decent price level (say they find some "strategic investor" -> these days cash rich SWF from China or Middle East :-) ) to take a large stake at above market/at market level, this will be a positive news and would force liquidation of the positions.

If the company is forced to issue a deep discounted right issue, the holder of short position might be able to buy these rights for cheap, and use the stock issued to cover the stock on loan position thereby laughing all the way to the bank.

The management on all previous conversation have expressed that D4E or a discounted rights issue is not a favoured option for them and I hope they are fighting their corner well during the discussions with the bank. the uncomfortable part is that these discussions have gone on for a long time now and it might be a matter of finally who blinks first.

Given that banks allowed them to acquire and spend more money can mean two things

a) either banks are happy and supportive and in that case the discussions are progressing well. This may end up as doom for the the short position holders. OR

b) banks are happy loading them with more and more debt in order to twist their arms more and force them to change their position about right issue/placement. This can be bad news for long positions.

The truth could lie somewhere in this two extremes and I wish someone's crystal ball had a foresight.

[anotherguru] 12/9/2007 09:09

yes i was replying to your question!

"whats the highest % anyone has seen on out on loan"

a = 13.8%

[bronking] 12/9/2007 09:05

Crest Data 04/09/2007

On Loan 5.74 m On Loan as % in Crest 19.08 %
In Crest 30.07 m In Crest as % in Issue 72.34 %
In Issue 41.56 m On Loan as % in Issue 13.80 %


see the financials section (won't let me copy and paste)

[anotherguru] 12/9/2007 08:45

bronking, 13.8% !!!!

[cappagh] 12/9/2007 08:22

Funny trades at the begining of the day