Re 3 day Vwap dates- Plan B states 3 day VWAP to be calculated in a "specified 3 day period".I read that such period is locked in month to month. By checking the Springtree JUNE Issue one finds that the only period of 3 days that gives a VWAP subject to a 10% discount giving a 38.52 cent Issue Price is June21-23. follow so far jo?
However Plan B would not specify the period by dates ie 21-23rd of month because some months they'd be weekends etc. How I imagine the specified periood would be described would be a The First 3 Trading Days of the second last week of a given month.
This may seem a bit far fetched but there is solid Market Precedence for the Market using the second last week of month for calculations and Settlements. For Example Future/Option Contracts [I think] use a day in the second last not the last week for settlement.
Certainly the last week/day of month is used by Institutions to balance their books and that alone would cause Springtree to want to avoid the last week in preference for the second last week[book balancing often involves tweaking prices Up]
The only thing to add and reaffirm is that the Second Last Week 'criteria' is by YANK not Aus Time and a Holiday Non Trading day in the US would probably change the calculation.
Anyhow the 3 day VWAP for July is .5325 giving Springtree's July 10% discounted Trache at 47.92 cents.
Next notice showing issue at this price will Confirm our first 3 trading Yank days in the second last week of month is the specified period as per Plan B.
questions out of this month include Will large Asks on 54 and 55 disappear tomorrow? Will BOT selling be turned off? [yes the bots are still at work,interestingly on the Buy as well as Sell] and..well,several other 'indicators' turned up to my mind this week. enough for me to buy today a trading parcel.
GSL Price at posting:
53.5¢ Sentiment: Buy Disclosure: Held
