Danakali Share Discussion Threads

[webley] 29/1/2002 14:54

Anybody got streamed US prices? Mine are on a 15 min delay. Yesterday it started well in the US and then fell back.

[serious punter] 29/1/2002 14:50

Now up 10cents

[serious punter] 29/1/2002 14:48

Started positively across the pond

Last Sale: $ 2.38 Net Change: 0.03 1.28% Web Site

Today's High: $ 2.43 Today's Low: $ 2.38
Best Bid: $ 2.38 Best Ask: $ 2.43
Volume: 49,200 Previous Close: $ 2.35
Market: Nasdaq-SCM American Depositary

[redman2] 29/1/2002 14:40

What's happening with DANKA across the pond?

[serious punter] 29/1/2002 13:12

Has anyone noticed how sensitive the offer price is to small buys going through. IMVHO, I think this is very encouraging. Lots of sells earlier on and no major drop.

I think if there are any shorters out there, then they'll need nerves of steal, or deep pockets.

[oaklandsway] 29/1/2002 13:08

Indicated to open $2.37-$2.40 but pre market could determine later; I would like to see another accumulation but can't predict how the shorters will play their role until they start trading.

At this point, I personally will hold 'till the result or further indication because I just expect the company can bank a net profit, even very small, to change the sentiment.

[webley] 29/1/2002 11:50

The US will be watching, thin volume, drop in price - could be just what the shorters were hoping for.

[jbat] 29/1/2002 11:42

At least the MMs can get a bit more stock in. Good for us in the long term. As long as this doesnt close out at something silly like 34.

[johnnyamerica] 29/1/2002 11:41

Yikes. Holding on though. This has got to be a shakeout.

[jbat] 29/1/2002 11:15

The Bad news - it just moved 1/2pt down :(

The Good news - the spread is now close enough that we might get some more takeup :)

Now panic-selling is going on - hold onto your hats!

[johnnyamerica] 29/1/2002 11:13

Definitely waiting for America.

[webley] 29/1/2002 11:01

US is the key. Results this week. I think most people are holding pending these.

[jbat] 29/1/2002 10:58

Must admit that its looking disappointing, though its not unusual to go half a day with no price movement. Southeasterly drift, though this wont be an issue unless it goes on all day, which is pretty unlikely. Any feelings?

[johnnyamerica] 29/1/2002 10:06

Volume doesn't seem too good and biggest trade looks like 25K. Could this have anything to do with shortage of stock?

[357aman] 29/1/2002 09:53

We can see a significant move towards south west!!!

[webley] 29/1/2002 09:34

Thanks MIATA and sincere apologies to anyone I mislead.

[miata] 29/1/2002 09:26

Divide by 6 was correct when $/£ was nearer 1.5, now it is nearer 1.4 the difference is significant in relation to the DNK share price.

ADR represents 4 shares so mid of $2.41/4/1.50 = 40p, $2.41/4/1.41 = 43p.

[webley] 29/1/2002 08:53

photon, sorry, I didn't realise youwanted an answer. The conversion I use was provided by one of the regular posters, sorry no time to go back and check which one, and has given the same answer as everyone else when they publish a price. The simplest I have seen, which gives a very good approximation, is to divide by 6.

[jbat] 29/1/2002 08:49

I can't decide if the small markdown this morning is justified. Of course, pre-open auction buys are an influence, but I wonder.....As to shorters, hopefully they wont get a chance, and with the results coming out, we should be heading in one direction only - up.

[oaklandsway] 29/1/2002 08:34

I do not think MMs here have got enough shares as they just increase offering price from 41.70 to 41.80 and only 10,000 shares available for that price (any detail level 2 please). Also happened in US, although the price closed at $2.35 (highest was $2.64) but any medium or big buy will jump the price.

I think there are still lots of shorters in US that will try to put pressure on the pricing when the trading volume is slowing. IMO.

[photon] 29/1/2002 08:24

let's try again:
webley, the mid price on a spread of $2.35 to $2.47 in the US equates to 43.1p a share here, not 40.1p

[erdmanski] 29/1/2002 08:20

There is a slight risk when the ADR has such significance for the trading
momentum with Danka on FTSE. As you mentioned, trading syndicates/strong retail investors could without big problems short a couple of hundred thousand shares.

[webley] 29/1/2002 08:18

It has opened at the same level as nas closed - seems reasonable to me.

One interesting comment I saw on a US bb last night was from someone who admitted he shorted it on Friday. He was laughing at himself because the price had not dropped. There will be a lot like that and they all have to close their position eventually. So beware of some selling by shorters with deep pockets and a strong stomach who try to trigger a drop. I would have thought this impossible when we have 3million traded but on lighter volumes they may be tempted.

[erdmanski] 29/1/2002 08:12

Redman2 -

There's a tradition with the MM's marking DNK down before the opening bell, in case the market is bullish during the day. If the buys start dropping in, there will be a correction towards Monday's closing levels.

Not too bad start, considering the drop staged yesterday morning. At least
price is holding steady around 41p mid.