Also the Clesring and Settlement back office systems are settling, like GBST, FNZ systems. There are floors of team members who actually do the pains taking Institutional Settlement processes after the Auction every night... It's the back office unglamorous job not the Traders front end Portfolio Fund mgrs
This is where the Fund managers call other Fund mgr mates "Fund managers saying my books are closed but can you sort a trade out for me and we can cross trade later ... mate This also gives other Brokers the heads up , so they can their close clients and let them know ... hence why you are seeing lots of late Settlement orders on highly traded stock. This happens all the time on the US NYSE Trade floors. I was... let's say was called in when systems did a hiccup and errored. We used backed systems to the second and after hours is much easier to handle.
I suspect this is the reason why there was a late late $1,000,000 trade last night which raised a few calls to other clients for this morning to trash the .30 cents wall. and interestingly the SP came back to .29 to .285 cents today
almost suggesting this conversation;
Fund mgr: mate you need to get on this stock asap
Client: Ok, why what's up?
Fund mgr: Because you know we are back on the hotter than usual Commodity Lithium again as our books have opened up with this rare Canadian find, it's cheap , has great potential as about to produce and our analysts have raised its target price , I still have the buy position open for ya , but you have to act now !!! If you want you can trade it at the high past the .31 cents and we can Re-buy again close to .29 cents for another Hold position
Client: hmmm don't fully understand but I trust you...
Fund mgr: Shall we do $1million ?
Client: .... zzzzz quite
Fund mgr: Come on mate time is running , system is Settling!!!
Client: Ok, take it from my CMT reserve account but I better see some F**** profits
Fund mgr: thanks mate , don't worry have I ever let you down ? Will make the SP runs perfectly.... high hooo silver profits coming in tomorrow!!!
deal done ... phone off
Today: mate what did I tell you !
seen it atleast in the US stock markets...
So what will happen tomorrow? A test touch of .30 cents again but will behave within as Algorithms are readjusted This is why one must use the Institutions tactics run with them, sell with them and then buy back in with them. ( Only for taking some Profits to re-enter back in again "
Because the Algorithms just freak out and hell breaks loose... Did you notice after .30 cents was broken the Tape entries actually went blank for a few seconds!!! Algorithms readjusting but reading the next temporary Resistance levels. Then if you noticed there was an actual pause of trades around .31 cents then came down to ..30 cents then paused again ... why ? because the systems were recalibrating to make .30 the support level but other institutions saw a weakness and took full advantage, broke the .30 straight down immediately "quickly" to . 29 cents with high Sell Volume
if only the systems recalibrated quickly .30 cents would have been the floor
But now it's going to test it and play around until the next Volume, SYA is definitely under the radar of ASX 200 Fund mgrs and they want to accumulate...
so time to re-accumulate for us too !!! use this time new investors , long term guys accumulate accumulate accumulate !!!
as we know what is going to happen in the near future !!!
Let's see what we can trade at NYSE open, going under water now , creating my nightly Buy list
best regards all, OrdFin
Disclaimer: My own thoughts and research and personal comments, kindly DYOR
SYA Price at posting:
29.5¢ Sentiment: Buy Disclosure: Held
(20min delay)