Sell @ $0.25
The calculated Shares Buy Back Max Buy Price = $0.2478 or 44% @ 24.5ct ; 56% @ 25ct
For today, there were no giveaway in the Mkt open Buy & Sell Q… Other than that, the script follows closely to that of yesterday,
- A slow start
- A huge Sell Q (much bigger than yesterday) coupled with a low Buy Q
- Sellers finally "motivated" to sell to Buy Q
- Buy Q got topped up.. but in smaller Qty than yesterday
- Bigger sellers appeared, perhaps "motivated" by the long weekends – perhaps fears of Shares Buy Back going MIA (not unfounded based on past track record)
- Nibbling @ 25ct Buy Q started after lunch followed by a huge buy in the late afternoon
What I did was to put some in 25ct & 25.5ct Sell Q, despite the huge Q (close to 900 lots). The 25ct ones were done.
We're now cautiously hopeful that they may continue to do the Shares Buy Back, perhaps till slightly below NAV = 27.61ct (their highest was 28ct, above NAV).
Current gameplan is to continue selling with every 0.5ct bid up, but, now in smaller Qty. Perhaps an Inverse Pyramid approach ie. Bigger Qty at higher prices.
After mkt close, SGX Annc on Shares Buy Back,
- 2,294,000 @ $0.2473 (slightly below calculated $0.2378)
- Vol = 2,947,000 ; Range 24.5ct to 25ct
For the next trading day on 21-Apr (Mon),
- Max Buy Price = 25.31ct
- 62% @ 25.5ct ; 38% @ 25ct