Banter and General Comments, page-9472

Whoever was buying via Instinet either stopped or moved on to use someone else (it is quite weird to turn up every day as more or less the only one on the buy side, which is why it stood out... it isn’t as if they are the only dark pool around). Given that net short hasn’t changed much, my guess is that a buy side institution has bought maybe 1% or a bit more over the past few weeks. Another thought was ETF index activity, but the ones that matter, LIT and REMX have been in outflow for the past month and there have been no announcements for their underlying indexes.

Market share of the retail/CFD brokers remains high, as does HFTs share, they are natural counterparties to retail order flow. This is because retail place small orders in size and number, so a liquidity provider is less likely to be run over by a campaign trade. I’ll stick with my guess that it is a buy side fund manager giving the battery materials a go... maybe they see the complementary battery materials prices and see a trade?

Just a guess and it doesn’t contain any price forecast or recommendation.