Jessops Share Discussion Threads

[tr65] 22/10/2009 12:11

Ah, thanks, sportbilly, I remember now: pbracken, the 'one-way bet to 0.1p' man.

[sportbilly1976] 22/10/2009 11:30

he also stated that he was able to hold to the end, so I imagine he has his stop set (he was on a cfd) at a very safe level - say 3p+.

if his position is a December contract then JSP will have delisted before its expiry and he will be able to purchase stock on the grey market to close his position.

[fishman] 22/10/2009 11:06

I would imagine he still has his.
Only because he implied he was holding the position to the end.
And I don't think he's the only one.

[sportbilly1976] 22/10/2009 11:00

tr65 - it is a poster on here...pbracken

[tr65] 22/10/2009 10:59

Who is 'our friend'?

[sportbilly1976] 22/10/2009 10:39

no idea...but if he has DMA there has been well over 1 mln traded on the buy side via AT trades in the last few days, so potentially.

[fishman] 22/10/2009 10:36

So has our friend closed his million?

[sportbilly1976] 22/10/2009 10:34

fishman,

the reason behind my assumption/guess of 2% is that professional shorters would have been onto JSP when it was trading in the teens or above, or maybe when it spiked up to 8p earlier this year...and they will have closed.

some may well have gone short recently and are waiting for their 0.1p, but the recent share price movement (or lack of) may well have got them to close and take the 0.3-0.5p gains from the 1.5p at which I will assume they went short.

Also, if you look at the trades which have been going through plus over the last week or two...they are virtually all buys and so the volume traded there (>10 mln in that period) to me suggests that most shorts are now out.

of course I may well be completely wrong, but those were my assumptions...

[fishman] 22/10/2009 10:34

Anyone can see that your buy price today is 25% higher than you could have got yesterday. That's quite a hike for anyone hanging about needing to buy.

[fishman] 22/10/2009 10:28

Sportingbilly1976:
I see we have still not anywhere, apart from assuming 'the mad' have been buying JSP shares!
I don't know myself, but how come you have decided that there are less than 2% currently short?
Remember, not only were there professional shorters holding from a long while ago, but a lot of people got involved recently.
These latter are into this as a sure thing, so are holding until the 0.1p.
I can't believe if you add that lot up it is under 2,000,000 shares!
I mean, our friend here has a million doesn't he?
I wonder if that early spike on the chart is making anyone nervous?

[sportbilly1976] 22/10/2009 09:08

sbs,

professional traders will not be touching this. The mkt cap / liquidity is too small & the spread is too large for them to trade (currently 12%).

to make £1k on a turn would require a purchase & sale of >2 million shares which can be executed right on the spread.

As a neutral, it is interesting to note that there will be only a set amount of shorts around.......maybe at most 2% left (you cannot open new positions) and once these close who will be buying?

whereas there will be 90%+ who still hold stock and can currently sell for 11x what they will receive once this delists....

[sbs] 21/10/2009 21:49

Yes - but which way ;-)

[tr65] 21/10/2009 19:01

Maybe we're lining up for a big stop-busting spike tomorrow?

[sbs] 21/10/2009 17:09

Perhaps it's all those high frequency program traders which account for 99% of liquidity in normal stocks. Who needs an actual company?

Not dissimilar from paper (fiat) currency. No underlying asset, but still people trade trillions a day!

[tr65] 21/10/2009 16:29

Even though I'm losing money, this gets funnier every day.

[sportbilly1976] 21/10/2009 15:49

level 2 looking its strongest now in some time...

1.363mln v 800k - 1x 100k order at 1.3p, otherwise only Mm's on the sell side

[sportbilly1976] 21/10/2009 10:51

the trades yesterday seem to have lightened the buy side of the order book...

just 175k to 1st MM at 0.75p, with only another 65k on the book apart from the MM's...

941k v 1,242k

[sportbilly1976] 20/10/2009 16:37

quite a bit of the support that was there at just over 1p taken out this pm with over 800k in AT trades....

could be interesting tomorrow if a few sells start to come in..

[sportbilly1976] 20/10/2009 15:58

high volume this pm compared to recent days....

[1howie] 20/10/2009 08:46

it was a few years ago agreed, and it was mainly ofex, but 500k for a prospectus is not true unless you are talking 100m company plus

[discoverytim] 20/10/2009 08:16

6.5% on early trading. back on the way to 1.3p and then I'm outta here.Maybe ;-)

[sbs] 19/10/2009 15:38

1howie - you must have worked in corporate finance a long time ago if you believe a prospectus costs £50k. I was given indicative pricings of around £500k for a small rights issue circular (not even a prospectus) when the European Prospective Directive came into force - and from several supposedly independent sources. Needless to say, we didn't pursue this "opportunity"!

Of course, it is possible that value for money has improved recently ;-)

[tr65] 19/10/2009 15:29

If only Victor Kiam hadn't popped his clogs.

[1howie] 19/10/2009 15:28

i worked in corporate finace and we floated many companies so these figures are correct. The only asset that hasnt been valued here is the tax losses which normally sell for around 10p in the pound. Not sure how much they have in losses, but I'd guess it is substantial

[sportbilly1976] 19/10/2009 15:18

sbs,

on the LSE website -listing cost of £30k and then £5k a yr....someone posted earlier that fees would be 3-5% of amount raised & prospectus around £50k.

so raising £1mln (mkt cap here now) costs a total of about £135-150k.

offset that against spending £1.1mln+ for a £100k payment...so a loss of £900k+