Gapwedge,
Thanks for you encouraging comments. Hey, this surely is a fascinating company and stock to follow. The plot may be thickening, but it is also getting better.
Today, as a resident of the city of Fibonacci (Leonardo Pisano is the other historically accredited name for that illustrious mathematician) I want to look at some of the maths of yesterday's trading, to review what actually happens on the pink (blushworthy? colour of the first fingers of dawn?) sheets.
In my opinion, just from scrutinising the data, the MMs fixed an agenda. The price would be allowed to open a bit higher, at 7.3 cents bid, 7.4 cents ask, to absorb the after-shocks of the positive PRs, but the price would not be allowed to exceed 7.4 cents, come what may. Then it would subside. Traders would understand that the glass roof was firmly in place on top.
Here are the cold data on the first 80 trades, as reported on "Time & Sales" on the FreeRealTime site.
How the MMs work. Here I have taken for examination the first 80 trades in SunnComm, as timed to the second (source: FreeRealTime). Hypothesis: the decision was taken to fix the bid at 7.3 cents and the ask at 7.4 – above all, the SP would not be allowed to go higher than that. Of the first eighty trades, only ten were at the bid and other seventy at the ask. In numerical terms, 2,629, 880 shares were bought – that’s as much as 83.36% -- and only 525,000 shares were sold – that’s just 16.64%, just under one sixth, of the total number exchanged. Yet the price was held nailed to the spot!!!
I trust my mathematical calculations have been impeccable. There seems to be no reason to question the data. Isn’t this an excellent reason to hope that the move to the AMEX will come sooner rather than later?
The question springs to mind: is it the market – of buyers and sellers – that makes the market, or the MMs that actually “make” it according to their agenda?
Just my thoughts in the margin, of course.
The best to all longs,
alj14
CONSPECTUS OF FIRST EIGHTY TRADES YESTERDAY:
Eighth group of ten trades:
10:55:54 AM Trade 0.074 50000
10:41:40 AM Trade 0.074 3000
10:39:58 AM Trade 0.074 5000
10:36:06 AM Trade 0.074 40650
10:29:30 AM Trade 0.074 25000
10:28:24 AM Trade 0.074 3300
10:24:36 AM Trade 0.074 15000
10:23:06 AM Trade 0.074 10000
10:22:08 AM Trade 0.073 100000
10:17:54 AM Trade 0.074 200000
Seventh group of ten:
10:17:52 AM Trade 0.074 34550
10:17:52 AM Trade 0.074 2000
10:17:48 AM Trade 0.074 70000
10:12:02 AM Trade 0.074 20000
10:11:50 AM Trade 0.074 20000
10:10:20 AM Trade 0.074 60000
10:07:38 AM Trade 0.074 150000
10:06:28 AM Trade 0.074 75000
10:06:18 AM Trade 0.074 10000
10:06:12 AM Trade 0.074 75000
Sixth group of ten:
10:06:10 AM Trade 0.074 50000
9:58:08 AM Trade 0.074 6000
9:58:06 AM Trade 0.074 500
9:54:52 AM Trade 0.073 50000
9:54:32 AM Trade 0.074 20000
9:54:22 AM Trade 0.074 20000
9:50:38 AM Trade 0.074 10000
9:50:12 AM Trade 0.073 50000
9:50:10 AM Trade 0.074 50000
9:50:04 AM Trade 0.074 50000
Fifth group of ten:
9:49:08 AM Trade 0.074 50000
9:49:08 AM Trade 0.073 50000
9:49:00 AM Trade 0.074 50000
9:48:42 AM Trade 0.074 10000
9:47:14 AM Trade 0.074 50000
9:47:12 AM Trade 0.074 50000
9:47:12 AM Trade 0.073 95000
9:45:48 AM Trade 0.074 20000
9:44:40 AM Trade 0.073 70000
9:44:36 AM Trade 0.074 20000
Fourth group of ten:
9:43:24 AM Trade 0.074 180000
9:43:20 AM Trade 0.074 35750
9:41:14 AM Trade 0.073 30000
9:41:10 AM Trade 0.074 25000
9:41:02 AM Trade 0.074 25000
9:40:32 AM Trade 0.073 50000
9:40:26 AM Trade 0.074 25000
9:40:16 AM Trade 0.074 25000
9:38:40 AM Trade 0.074 40000
9:38:38 AM Trade 0.074 23300
Third group of ten:
9:38:32 AM Trade 0.074 23400
9:38:30 AM Trade 0.074 23300
9:38:20 AM Trade 0.074 350000
9:38:08 AM Trade 0.074 23300
9:38:06 AM Trade 0.074 23400
9:37:44 AM Trade 0.074 10000
9:36:32 AM Trade 0.074 50000
9:36:14 AM Trade 0.074 14000
9:36:12 AM Trade 0.074 66600
9:36:10 AM Trade 0.074 66700
Second group of ten:
9:36:08 AM Trade 0.074 10000
9:35:28 AM Trade 0.074 25000
9:35:18 AM Trade 0.074 25000
9:35:14 AM Trade 0.074 20000
9:34:58 AM Trade 0.073 50000
9:34:58 AM Trade 0.074 10000
9:34:56 AM Trade 0.074 7000
9:34:56 AM Trade 0.074 30000
9:34:56 AM Trade 0.074 50000
9:34:56 AM Trade 0.074 10000
First group of ten trades:
9:34:56 AM Trade 0.074 2000
9:34:52 AM Trade 0.074 2000
9:34:50 AM Trade 0.074 25000
9:32:22 AM Trade 0.074 3000
9:31:44 AM Trade 0.073 50000
9:31:34 AM Trade 0.074 5000
9:30:46 AM Trade 0.074 430
9:30:34 AM Trade 0.074 3000
9:30:14 AM Trade 0.074 50000
9:30:10 AM Trade 0.074 700
At the ASK: 70 trades; at the BID: 10 trades.
Shares bought : 2,629,880; shares sold: 525,000. Grand total for first 80 trades: 3,154,880 shares. BID/ASK PRICE: 7.3/7.4 throughout.
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