Day traders' thank-God-it's-the-weekend lounge September 17-19, page-29

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Elite_Trader

4,226 Posts.

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18/09/21

05:42

Post #: 56166956
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Originally posted by buddi: ↑

Hope you all had a great week and made some money.

@Elite_Trader made a very good post this am reg. MHK, I want to share some observations from the broker data.

View attachment 3601502

Off the 66mil shares traded on Tue, there wasn't one net buyer with > 1 mil shares...which I felt was ridiculous. It's a tightly held stock, but still "they" managed to churn it crazy. If we think clients thru CS churning 4.5mil was too much, look at 3p on that day, 15mil buys and sells, which is 30% of the register. State One, Morrison etc are in similar bucket but on a lesser scale.

Not saying any of this is new, I'm sure the veterans here may have seem this many many times, after all retail are like small fish swimming with sharks, so I expect nothing less. But, this year some brokers or clients thru these brokers have bots running in a very clever way (e.g. from IOU in Feb to W2V today) with a simple aim, at least to my novice eyes....raise the SP up with a lot of churn, don't have to make much money through this process, but probably set a platform for their clients to distribute at these elevated levels. May be I'm talking gibberish .... but it was too much, so I let go my rest of the shares....was hard to throw them to the hungry wolves, but felt that's the right thing to do.

Tried a couple of intraday trades, and out of both of them for brokerage which turned out to be the right decision. Don't like what's happening with Evergrande in China. Time to do some homework and prepare for next week. Still holding SCU and slowly sinking with the ship

Have a nice weekend all.

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Hey @buddi

Yes you’re on the money with that post, there was a stock today that did this in A8G in the mid to high 40s
it was fun to watch & the give away for me was around 10million churn in the mid to high 40s with a stock with small SOI & it barely moved, pro’s just doing as they please lately & offloading to retail.
Big congrats on your profit with MHK I’m sure when it settles you’ll be jumping back in as it’s only very early days for this less then 1 year old company & bigger things still to come once the JV partner s start doing some serious drilling.

Have a great weekend

Last edited by Elite_Trader: 18/09/21
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Day traders' thank-God-it's-the-weekend lounge September 17-19, page-29

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Day traders' thank-God-it's-the-weekend lounge September 17-19, page-29

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From the Floor question: "When will FEX start using rail to augment & de-risk their haulage solution?" | Fenix Resources

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From the Floor question: "What is the focus of AL8 and how is management going to attract shareholders to the registry?" | Alderan Resources

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