anyone got any ideas about the block trades that went through today?

website: http://www.sterlingenergyplc.com/



weather: www.nhc.noaa.gov/refresh/graphics_at4+shtml/084938.shtml?50wind120

From tonights UK-Analyst email:

"Hardman Resources saw its shares firm 4.25p to 79.5p after it announced that the first phase of drilling had been completed at its Chinguetti development. The drill program, based offshore Mauritania, included 5 new oil producers and 5 water injectors to maintain reservoir pressure. Indeed, there were no holes barred as Hardman pulled out the big drills to get what could prove a highly successful prospect underway. The initial signs are good - drilling results at the Chinguetti field were positive, meeting or exceeding internal expectations, thus removing at least one significant element of risk by confirming that the volume of oil is at least as expected."

only way to learn trading is by experience if interested approach prop trading co's in the city- avoid futures.

Morning all, it's a bit slow at the moment but it's blue.

Due another tick up on the bid shortly. I've just done a dummy sell online with Barclays and been offered 15.5.

Morning all, thanks for that Pond Life. I understand that we get a mention in this mornings Express but can't find it online.

one guy on the bid and one on the offer. with the trades going through there is definately an order out there. i would be surprised if the price doesn't move today...

Cheers, bit of a quiet day all round really. Another move upwards would set the weekend up nicely!

Delayed trade of 4m+ at 15.5 just gone through. Seems an odd amount.

Yeah, can understand the 272 shares sold earlier on (huge profit taking amount) however dont understand the 4,474,321 (probable buy?) just shortly after that!

Looks like the guy who sold the 272 shares will be kicking himself **tsk tsk**

proably a seller? getting out of his 17p stock? clearing an overhang?

Sort of what I'm thinking as the amount does seem strange, but I could be wrong. Perhaps the other trades at 15.5 are sells also. If it is a sell then hopefully seller done now with that trade. Lets see what this afternoon brings.

exactly. classic overhang, MM's will be taking on the balance when they think the seller is almost done and next stop 17 bid. easy.

**NEWBIE ALERT**
could you explain what an overhang is and the seller situation, cant understand why if someone wants to sell... bid falls and after he sells (MM's will hike the SP??)

overhang is a line of stock that a large investor is selling that is significantly larger than normal trade in the stock. it tends to be more than a few days volume and once started will keep pressure on the share price. when the order is almost complete, the MM will tend to take the balance on his own book and sit back and wait for the market to realise the seller is out the way. The price then moves up and the MM feeds his stock to buyers. simple!

overhangs tend to come from placements, lockin periods ending (ie managers can't sell for 12 months after an IPO and then they are free to do so creating an overhang), or just institutional shareholders offloading their large positions. others reasons as well...

finally, any larger sell order in the market will drive the price lower until it finds a "clearing price" - where buyers match the selling. once the block is out the way the buyers may chase the price higher.

hope that helps. also check out http://www.investopedia.com/ for other general insights. (it is a US site but most terms translate)...

Cheers Proptrade... thanx for the info

I put a dummy sell through with Barclays earlier this morning. Bid 15.5, so in my view the 4 million was a sell. Latest online bid is now down to 15.3.

great. sellers out the way then.when these move they will fly through 17.

Prop
As a member of team SEY lurkers I would appreciate a quick tutorial on the heavy after-hours trading today
Can you oblige?

Yaeh prop, tell us what you think, and answer my question too from yesterday, did you buy 1/2 mil???

By the way the after hours look very promising..........

Sunray41, stop lurking and contribute more!

to answer your question, if you are referring to the 6 odd million that went through they are most likely sells which is why the MM who had the order was able to sell loads to buyers without the price moving too much. because of the size he doesn't have to print the order until complete which is why it is after mkt. once these sellers are done, these will take off. i expect the MM's to hold on to a few for a few pence turn.

SWW, i was not the 1/2 mill, i just added with 150/-. will look to take on more soon.

i think these have played the consolidation game long enough and the placement stock is now finding its way back to the mkt. all good news and the 17 ceiling should break relatively soon.

quid by xmas 200?

rgds
PT