Here is the weekly broker report for the last week Thanks to@Eddard.Stark again for providing the reports.
I told you on my last post that last week's broker report would be interesting, because I was seeing a strong buying pressure during last week.
Yes it's now quite obvious who is the big buyer; It's Virtu ITG.
(Virtu ITG is HK based Asian broker but has very large international footprint all over the world.)
Virtu ITG has bought ~6m shares last week (sold nothing) even though the volume was only 63m for whole week. Virtu ITG bought nearly 10% of whole week's volume.
The total of shares Virtu ITG bought so far is not much; only 21m (see the Excel table I've made). However when they start buying the sp goes up easily because the LTR holders are holding very tight. As you can see on my table Virtu was the cause of big price spike which was started on May 9. They stopped two days (Tuesday and Wednesday) after buying on Monday 12th. Then bought some more on Thursday then stopped again. Then they bought more but not much. I think they also surprised the tightness of the holders. Just see the Excel table and make your own comments.
Btw, I'm sure that our shorters are aware of Virtu ITGs buying pressure (as they are pros). But the shorters don't want interfere with Virtu ITG, they don't try to push the price down. Because they know that Virtu is a genuine buyer. If they'd try to push the sp down, they would lose a lot of shares (in shorts again) to Virtu. So they are just watching.
How long and how much Virtu ITG will buy is hard to guess. I think they are buying for an ETF. I guess and ETF would buy around 50m to 60m at least. If that's the case Virtu has a long way to go.
24m shares is 1% of shares on issue. So Virtu still couldn't buy even 1%. If they want to buy 5% that'd be around 122m shares. Hard to buy from the LTR holders. Maybe shorters would sell.
Also JP Morgan (LTR's substantial holder) and Macquarie were both accumulating along the last 4 weeks. (see the table).
As you can see on the table, Citi, Goldman Sachs, Morgan Stanley, etc, are all accumulating in last 5 weeks, while the Comsec, CMC Markets and WealthHub retailers were selling.
UBS was still most active in trading together with Comsec.
Even though UBS came up with a "SELL" recommendation on Friday the 30ththey are not selling out yet. Only trading.
This is the last 5 weeks (plus the day of May 9th) table I've compiled. You can easily make your own analysis from this table. I hope it will be helpful for the shorters as well. (Don't short! Or you lose)
All very good for us IMO.
The broker report below is for the last week; June 9th to 13th. You can see Virtu ITG's buying on the second page.
LTR Price at posting:
67.0¢ Sentiment: Hold Disclosure: Held
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