What just happened on AGLSBH?

[Tango]

Did someone offload 2m warrants at the bottom of the spread, or was it a purchase that the issuer gave at the lower price? Seems strange that a big player would exit at the low end like that..

[john_1]

Tango I have not spoken to the issuer but in the past it has been that a big player books a trade , The market maker goes into the market yesterday buy up the stock then issue the warrents at the hedged price. But contact them if you want clarification.

[Tango]

very interesting. So it could be a large purchase at the bottom of the spread then. Didn't make sense as a sell.

[john_1]

Yes, I phoned, It was a booked trade going long.

[Tango]

thanks John. I've just doubled my AGL long. AGL results out this week, and it's just broken out of it's sideways pattern. When I saw the large trade at the bottom of the spread I thought that someone with some knowledge might be getting out, so it's reassuring to find out that it was a purchase. I posted my AGL chart this morning - http://www.page88.co.za/forum/fileuploads/070220_021354-8.png

[john_1]

It is going to quite some party if Anglo's results are well recieved ( the market knows all the financials, it is all about corperate news and share houlder rewards) and Sasol does not get any windfall tax. The 3 biggest shares will all trend up and fast and I do hope you are along for the ride.

[Tango]

party possibly starting now? Looks like I doubled-up at the right time this morning, AGL climbing nicely

[GdM]

Hey Tango. What's happening? Starting to slide. You really think tomorrow's announcement will lift it?

[Tango]

I don't know - I'm just playing the probabilities. I think there is a better chance of it going higher, and my risk is limited to my stop level. Until my stop is hit I'm not going to worry about it. If it's hit, I'm out. no problem