.

interesting start here today

all buy so far!!!! lol

funny enough should tick up soon

bombs away!!

at 177/183, which is arguably +0.5p, how can you get so excited?

just seen this pattern before

From the chart, its been in "this pattern" for the whole of May :-)

Ouch... I bought in yesterday at 183p and now 169p.

bouncing now....

maybe not... chart not correct.,.

It's 163p now. Pretty bad.

i believe this stock is almost entirely owned by PIs rather than institutions ..... that being so, it is very likely that many are feeling the pain is too great to bear and/or are being forced to sell either due to called margins or stop-losses .... there will also be a number of (heavy?) bear positions .....

however, it seems to me that though the last rns disappointed, it was scarcely a disaster and there is no reason to believe that the bentley field is not highly commercial .... it follows, or at least should(!), that the fall is or will shortly be overdone and buyers will come back ..... for what the chart is worth (bugger all in this instance) i don't see much if any support above 120, which is not to say sp will actually fall that low

5% spread ?

it's an MM-only stock albeit that there are 8/10 of them (colluding!) ..... sometimes the spread is indeed +/-7/10p but at the moment it is just 1p

Fundamentals and common sense will kick in at some pointits a bloody bargain at the price its a company worth 830mill on its assets not 322 mill as it stands a correction must happen at some point.

there is something fundamentally going on in the market that I confess I don't understand if you believe the experts that we are not going back into recession.

As an example of what I'm trying to express, take a look at the charts of FPM, AFC, CNR, GFM, MATD. PELE to name just a few and that doesn't include the real tiddlers which have been hammered as well.

ie it is not stock specific just fundamentally the market.

Had a small punt @163 out if it breaks 140.

fantastic opportunity here again - bought 150's out now on my dt - that was all i meant by pattern - done this several times now - if it drops again to 150s today i am back - but i have noted that each drop is getting lower now in the 150s but generally recovering then down again - this is madness as oil still there but pis just too impatient imo - make on the drops here for now - and keep long if you have any

It's recovering now. Phew!

hyleo - of course it will dont worry....

interesting read below - another reason not to sell stops and why i expected this today (and prior to today) along with other reasons:

Q. But how do Market Makers work exactly?

A: Note what follows is unofficial but it comes from an informed source -:

To lubricate their transactions, market makers need a supply, or inventory of the securities they support. This can either be real certificates, or via a process called 'stock lending' (don't worry about THAT one yet - it basically means they borrow stock or "pretend" they have it). Once you have an inventory of stock, and the concept of 'spread' (or 'edge'), a marvellous opportunity opens up. The average price at which a market maker accumulates a security and the average price at which he distributes it are going to be different. Add this to the fact that the market maker sets the price tick by tick, and boom! A license to print money. Observe closely, this is a good trick.

I, as a market maker, decide (for no real reason, or perhaps because there has been some trivial news about them) that stock in ABC Corp is my plaything today. I don't have much of an inventory in that particular security, so what do I do? Mark up the price so external holders will sell me some? No. I mark the price DOWN. Oof. Some external parties see this as a buying opportunity, and as I am a market maker, I am obliged to sell them the security at the new, lower price, meaning I am even shorter on that security.

Sounds mad, doesn't it? But it doesn't matter, because I mark the price down again. And again. And I keep on doing it till I hit the stops of external parties who are long, but weak, or the limit orders of people who are short. As a market maker, I know where these stops and limits are. I own the book, after all.

Ordinary Joe Public mostly think the market follows the laws of supply and demand, follows trend lines or fibs etc, which means they all tend to put their stops in similar places ('resistance' anyone? 'support'? That's right, it exists!). This is a game of chicken, really, and YOU will ALWAYS crack before ME (the market maker), because I can take the market to zero, or to the moon. You have to meet a margin call.

So now I am a market maker who has a LOT of supply of ABC Corp, which has fallen significantly in price. Looks like I'm holding a plum, doesn't it? What do I do next? That's right. I mark the price up. And I QUICKLY mark it up to the point at which the current price is ABOVE my average purchase price. So voila. I'm in profit. In a fairly big way. All I need to do now is unload this stock to you over a period of time at a price above my average, and I am rich. You, of course, sold it to me on the way down.and are regretting it because it is probably already way above where you exited (strange isn't it, how the market seems to 'hunt your stops', and then reverse?!) If I do this right (and it is an art form, for which successful brokers get paid multi-million dollar salaries), I create the illusion that the market is totally random, and is being driven by YOU, whereas I am simply a fee paid middleman, facilitating your activities. Even worse, I give you the vague impression that you are actually pretty good at it, and if you can only get your stops a little more accurate, you will stop losing money!

As I mark the price up, external parties start to worry they will miss out on this growth, and begin an ABC Corp buying frenzy, allowing me to unload. Everyone is happy. Most of the investing public are sitting on unrealised (imaginary) assets, while I am converting worthless shares into hard cash.

So, I have made a real, cash profit. You are sitting on an unrealised paper profit. We are all happy. Until I repeat the process and stop you out. Again. Are you getting the picture yet? In fact, once I have built a little momentum in a particular direction (long OR short) I can let you prolong it, settling simply for my spread profit. I know that eventually the run will peter out, and then I can force it the other way, easily dislodging those who took a position too near the end of that particular phase.

Let me paraphrase. When the market is zooming up madly, market makers are actually selling (usually stock they don't own!) in preparation for a subsequent managed fall, during which they can buy it back for less (i.e. make a profit). When it is crashing down, they are actually acquiring stock, in preparation for the process of selling it back to you at a higher price (i.e. make another profit).'

this kinda covers the basics only - lol

kerrrrchinnnnnngggggggg!