Minoan Share Discussion Threads

[hugothesecond] 06/4/2020 08:15

Yes no shares to buy

[wi1l] 06/4/2020 08:14

Same problem, carries over from Friday?

[wi1l] 04/4/2020 10:55

That could be the case atlantic, watching the share price descend in large jumps is pretty disconcerting to most holders. They seem to have coupled up with a seller doing his best (it would appear so anyway) to get out come what may (but that will only go on until he's out) and the lack of news just adds to the psychological impact it has on the mind of a holder. The mm's are in it to make a market between buyers and sellers so they need both.
Yesterday was strange because one or two here could see a buying opportunity because the share price was so low given the news out was reasonably ok or lets say could have been far worse but throughout the whole day virtually all you could buy was 1000 shares. That happens occasionally for a brief period but not all day. No adjustment was made to cater for the buying interest at all. Presumably they didn't have the shares to sell on or that's how it looked anyway because they were looking to buy more than 500K in one go.
It was completely the reverse the weeks up to yesterday. Dummy sells only allowed 1000 at a time and you could buy in quantity then.
Not sure what to make of it atlantic - Monday might bring a clearer picture.

[atlantic57] 04/4/2020 08:37

Will , do you believe the mm have done this to scare holders into selling ?

My knowledge and understand of how mm work is zero.


Logically if Ce announces a deal which monetarises the asset at a certain value and clears the debt, the shares then have a discernible value.

At that point you would expect buyers to appear ,presumably the mm will have to raise the price.This seems logical but yesterday this did not happen.There appeared to be a buyer around maybe at a limit price which perhaps stopped the mm as Waterloo suggested raising the price.

[wi1l] 04/4/2020 07:34

Please correct me if I am wrong atlantic. (?sadly!)I keep a record of the daily buys and sells which over the past year or two hasn't actually been too onerous nor (given the numbers of trades occurring)too difficult to be accurate.

Starting from 1st Dec 2018 to 31st March 2020 my calculations of buys comes to 74.5M and sells only 62.2M with a few unknowns thrown in 1.2M. Even with the unknowns shown as sells the buys have it by 11.1M.

Take last month March 2020 buys came to 11.4M and sells 7.6M with nil unknown. In one month the buys had it by 3.8M. There was a seller(s) in March but the buying to match soaked up all the sells and some.

Yet the share price has been worked down from 2.2p/2.4p early dec 2018 to where we are now 0.6p/0.8p.

Yesterday told me that the mm's had little or no stock left - now that made sense. They've also got the price down to a starting point of virtually nil and all they had to do then was to get into the minds of a few nervy holders who should press the sell button & low & behold their starting point for making a profit was a given.

But I think that they have become too greedy with their obvious success at getting the price down to this point. Its become too low for the seller and being so low the mindset to quite a few NOW is that it couldn't be better timing to buy a few more. But there's none on the market to buy!

To me the price should recover now, its only because there's one stubborn mm sitting there grizzling that he's got the price down to where he wants it but seems to have missed the point that all the sales made recently have been hoovered up and significantly more have been bought that now he's got none left in the coffers to sell. Hence the stalemate but surely the bottom has now been reached. Presumably the only way now is up until it meets the seller, if he's still around. But I have a feeling he too is getting low.

Unless of course I've missed the point in all this.

[hugothesecond] 03/4/2020 20:12

The 0.7 reported late I believe could have even been a buy from first thing this morning.

[waterloo01] 03/4/2020 17:44

Yes, I put an order in at .85 and it was rejected. The 150k must have been an earlier sale, reported late. So no liquidity. Happens I guess it in these sorts of markets, liquidity goes both ways, but what I don't get is why they didn't up the sell price to attract any sellers, unless they were caught short, in both senses of the word.

[atlantic57] 03/4/2020 16:52

Waterloo your explanation seems sound.

Will I have never understood how the market maker function works in practice.
With your detailed analysis you appear to have concluded that sales and purchases have been matching yet the the price has tanked.

[wi1l] 03/4/2020 16:29

Think you are right Waterloo, there must be a buy order at 0.80 waiting patiently.Not a mass exodus for the doors which is good to see. But not able to buy any when for quite some time they've been crying out for buyers (it would seem anyway)and they shut the shutters up on selling until today when they were after 500k sale in one go suggests quite some turnaround.

[hugothesecond] 03/4/2020 16:22

there is something going on here - maybe a late trade will pop up to surprise us.

[waterloo01] 03/4/2020 16:12

I don't understand the spreadbet market well, but wonder if someone has taken out a decent long and they can't find enough sellers to match the price, so unless they take a bath. Stale mate. Maybe?

[hugothesecond] 03/4/2020 15:56

even when they sell stock there is none to buy !

[waterloo01] 03/4/2020 15:12

The broker seems to have shut up shop. Don't have sellers at .7p so can't match buy orders and they don't seem keen to move the offer price. I think they call that having ones knickers in a twist.

[waterloo01] 03/4/2020 12:16

House broker seems to have locked up shop.

[pinkfoot2] 03/4/2020 12:05

Funnily enough,CE could be the companies’ saviour.He has embedded himself in this, trousered millions etc.I doubt the loan holder will want him leaving the building.That means we rely on CE to protect the interests of his shareholders-ahem

[daicaprice] 03/4/2020 10:50

The only way is up.

DC

[hugothesecond] 03/4/2020 10:48

Just thinking were potential purchasers waiting for the legal challenge announced in the RNS to fall away given the potential significant financial risks.
Still can only buy 1k but sell shed loads - what does that tell you ?

[pj 1] 03/4/2020 10:12

12 months ago Investors saw a reasonable price of between 9 and 12p per share.

If I am reading things correctly, it is now 3p? (other thread)

I am still of the opinion Egleton has known from day 1 what value he could get for an asset he paid nothing for.

His goal is for it to take as long as possible to secure his remuneration and expenses which now must be £ 6m or £7m plus.

All IMO

[hugothesecond] 03/4/2020 10:10

Max I can buy are 1000 (!!) at 0.80

[fireplace22] 03/4/2020 09:20

I'm all for some class action to secure moral damages inflicted on shareholders.

[wi1l] 03/4/2020 09:14

They also mentioned that the accounts would be submitted with the update:

"We will update the market further in our preliminary results announcement which, taking into account the current situation, we now expect to make later in April."

Which to me suggests they are through the audit review otherwise they wouldn't presumably have mentioned they would be submitted April but wait for the additional three months allowed.

[waterloo01] 03/4/2020 09:12

lol 140m plus 1m 'moral damages' Instead they owe MIN's costs. Shows how long somethings take in Greece!

[daicaprice] 03/4/2020 09:08

Thought we may have had a few more having a punt down here on that, a bit of fresh money in could move it back over 1p easily.

DC