FFR - Firefly Resources

jonojpsg · 4 May 2009

Re: BMY - Brumby Resources

adobee said:
The response from COMsuK is as follows -

"All brokers that operate on the ASX have an obligation to maintain an orderly market. As such, we may not be able to execute a market order if it increases or decreases the price of the specific stoxk by a large ammount. If you placed a market order, and the order did not execute immediately, it would be monitored by our dealers who will keep your order at the top of the queue, and execute the order under circumstances that are in line with our obligations to the market."

So this means as the highest seller is far away they will just keep my order at the top of the queue ???

This does not seem right Ie Yesterday I put a buy in to take out all available shares.. at 6-7c but instead they put my offer in at 5.8c and leave it sitting there .. four hours later it is still sitting there but the sell side has changed from 6c to say 6.4 ????

I am not up on the 'Orderly mArket' rules but it seems crazy that I cant buy the shares at the price they are offerred..

Hey adobee,
I thought I'd jump in and have a crack at buying some too since my only parcel was at 36c and thought it was a good chance to average down before any potential move happens (here's hoping!)

They told me the same thing - I only wanted 16000 at market and there was a seller at 0.07 but because the price had already moved 20% for the day they wouldn't put my order through (would have made it a 40+% move for the day) - said I'd get it Monday morning. Then when I checked this morning, my order had gone through but at 0.08 even though there was an opening trade at 0.07.

I'm pretty pissed off even though it's only chickenfeed difference, but it's pretty crap if you ask me

adobee · 4 May 2009

Re: BMY - Brumby Resources

I dont know whats going on I keep throwing in buy orders and they keeping getting thrown out ??! I have checked to make sure I have some money in my account.. I have enquired twice to comsec and they advise the same thing.. they wont buy at a high price and make it jump up by 20%.. meanwhile someone else will so I have lost out on buying at 5c and the price is round 8c (whilst still on very low volume)..

Anyway at least there seems to be some market interested..
not great as I havent managed to pick many up though..

chrissyoscar · 4 May 2009

Re: BMY - Brumby Resources

adobee said:
I dont know whats going on I keep throwing in buy orders and they keeping getting thrown out ??! I have checked to make sure I have some money in my account.. I have enquired twice to comsec and they advise the same thing.. they wont buy at a high price and make it jump up by 20%.. meanwhile someone else will so I have lost out on buying at 5c and the price is round 8c (whilst still on very low volume)..

Anyway at least there seems to be some market interested..
not great as I havent managed to pick many up though..

I'ld be contacting Comsec again and ask them to please explain how on earth they can justify their actions given that the share price is now 10c.
I'ld then cancel my account with them and go elsewhere.
I'ld bet their more privileged clients don't have the same restrictions.

Anyway lets hope the upwards swing in the share price continues. Hopefully somethings up and those in the know are topping up or jumping in.

AussiePaul72 · 4 May 2009

Re: BMY - Brumby Resources

Hey guys, i feel sorry for your experience with CommSec. Their actions appear crazy. The whole idea of an 'at market' buy is that your order gets filled at whatever price sellers are sitting at. The buyer takes that risk with an 'at market' order. If the buyer wanted something else they would place a 'conditional order' or an 'at limit' order. I am not familiar with CommSec but i don't understand what gives them the right to decide whether they process an 'at market' order or not for a customer? Am i missing something?
Anyway, i'd be closing my account with CommSec and going somewhere else if they can't give you a good explanation. From my experience, I don't normally place 'at market' orders but i'm with the online broker 'Bell Direct' and have been very happy with their service.

Anyway, on the upside it was a great day for BMY today moving from a close of 6.6c yesterday to a close of 10c today on a volume of about 320k. Even at 10c, BMY has a market cap of only $5.5M. Currently there are 14 buyers for 1.5M shares sitting on the buy side and only 5 sellers for about 200k shares on the sell side. Sellers have been short for a while now but not sure why the movement today??? Maybe some on the inside knows of some soon to be released news??? Or maybe once a couple of buyers started the SP moving it just snowballed on a very positive day on the market???
Anyway, I'm a holder and have picked BMY in the May Tipping Comp so hopefully this is just the beginning of things to come as BMY approaches their drilling schedule for 2009. Good luck to all holders

YOUNG_TRADER · 4 May 2009

Re: BMY - Brumby Resources

Hey guys off topic but maybe its time you considered using a different online broker, or even maybe a full service broker? they can do whatever you like

Also notice the 15c BMYO opies are starting to move a bit, they offer huge leverage given the tiny tight mkt cap, but also higher risk, still 2010 expiry so awhile to go yet

big sal · 4 May 2009

Re: BMY - Brumby Resources

BMY up over 50% today, had to say it for the pure % gain. shows how this one can rise and fall quickly. interest picking up again with drilling to start by mid june

adobee · 4 May 2009

Re: BMY - Brumby Resources

YOUNG_TRADER said:
Hey guys off topic but maybe its time you considered using a different online broker, or even maybe a full service broker? they can do whatever you like

Also notice the 15c BMYO opies are starting to move a bit, they offer huge leverage given the tiny tight mkt cap, but also higher risk, still 2010 expiry so awhile to go yet

any suggestions ??
I looked for the bmyo today as I saw there was a sale up 75% or so ... When I looked there was nothing for sale ...

adobee · 5 May 2009

Re: BMY - Brumby Resources

Wow buyers up to 12c today.. small volume but all the same its making my balance sheet look pretty good. I might take a snap shot of my current position and apply for a home loan.. People obviously pre-empting drill results.. hopeful its not a case of buy the rumour sell the fact..

YOUNG_TRADER · 5 May 2009

Re: BMY - Brumby Resources

Just look at that buy vs sell depth!

Geez be smiling if you were a sophisticated who got that placement

Mkt Cap is so tiny any results/activity was going to cause a large movement

big sal · 5 May 2009

Re: BMY - Brumby Resources

YOUNG_TRADER said:
Mkt Cap is so tiny any results/activity was going to cause a large movement

and on top of yesterday's big rise up another 35% today. buy side still looking good so we could see more of the same tomorrow

adobee · 6 May 2009

Re: BMY - Brumby Resources

We are still a few months away from any drilling news.. I cant see much happening unless there is a take over offer and I think on the low volume its very unlikely.. I do think that we will start seeing some big swings as people get in prior to drilling results as there is just nothing to buy..

I was trying to get my position averaged out to about 5c however havent been able to get much at all... will have to wait and see.. I am tempted to keep picking up at 10c as market cap is still less than $10m.. might wait a week or two and see..

adobee · 7 May 2009

Re: BMY - Brumby Resources

Whats to the go with the trades on this stock .. ??
$80, $161, $ 76 ???

Are these not costing people for the actual transaction ??? Where is the point of selling $80 worth of shares ? I know its a penny stock but these seem to be Penny trades..

Well great to see BMY getting some action and on the Rumour Mill ..

Datsun Disguise · 7 May 2009

Re: BMY - Brumby Resources

There's not a lot holding this run up - the buy volume is pretty small down to 5c. I think a retrace tomorrow might prompt lower levels as the buyers above 12 c get nervous, an opportunity to pick up a few more perhaps. If that 250k buy order disappears it might spook the horses. Hope so, a few more of these in my portfolio would be a good thing longer term. And yes, I'm a hopeless bargain hunter - to my detriment on many occasions.

adobee · 12 May 2009

Re: BMY - Brumby Resources

YOUNG_TRADER said:
Hey guys off topic but maybe its time you considered using a different online broker, or even maybe a full service broker? they can do whatever you like

Also notice the 15c BMYO opies are starting to move a bit, they offer huge leverage given the tiny tight mkt cap, but also higher risk, still 2010 expiry so awhile to go yet

Where does one find the information out about BMYO ?? I am looking at BMYO current offer 4c but cant seem to find any info out about expiry dates strike prices etc.. ?

happytown · 12 May 2009

Re: BMY - Brumby Resources

adobee said:
Where does one find the information out about BMYO ?? I am looking at BMYO current offer 4c but cant seem to find any info out about expiry dates strike prices etc.. ?

one easy way of locating this info is by looking at a co's appendix 3B anns released to the asx, they list the number of shares and options in a co quoted on the asx (including strike price and expiry dates)

cheers

rhyslivs · 12 May 2009

Re: BMY - Brumby Resources

Hey adobee,

It can all be found in the quarterly report:

Total number of listed options: 20,338,958
Exercise Price: $0.15
Exercise Date: 31 January 2010

Datsun Disguise · 17 May 2009

Re: BMY - Brumby Resources

Datsun Disguise said:
There's not a lot holding this run up - the buy volume is pretty small down to 5c. I think a retrace tomorrow might prompt lower levels as the buyers above 12 c get nervous, an opportunity to pick up a few more perhaps. If that 250k buy order disappears it might spook the horses. Hope so, a few more of these in my portfolio would be a good thing longer term. And yes, I'm a hopeless bargain hunter - to my detriment on many occasions.

Is it conceited to quote yourself? Hmm probably.

Anyway - this one is held tighter than a fishes bum! Very impressive. I wonder what it will take to get it falling - or will it fall? Once drilling is announced will it take off like innamincka did? Quote possibly given how tightly it's held. Might have to put in a trigger for $1 or so and see what happens.

jonojpsg · 17 May 2009

Re: BMY - Brumby Resources

Datsun Disguise said:
Is it conceited to quote yourself? Hmm probably.

Anyway - this one is held tighter than a fishes bum! Very impressive. I wonder what it will take to get it falling - or will it fall? Once drilling is announced will it take off like innamincka did? Quote possibly given how tightly it's held. Might have to put in a trigger for $1 or so and see what happens.

Hey Datto, I reckon this will hold up in the short term - don't reckon anyone holding currently would want to ditch before drilling as the potential risk/reward is pretty big on this given current MC of about 6 million! If they drill some intersections like Atlas' Pardoo holdings then we could well see your $1 in the next few months

adobee · 28 May 2009

Re: BMY - Brumby Resources

considering that it was sitting stagnent for a long time with no trades at all we are getting some reasonable interest and people buying which is very positive... I am pretty peeved I didnt get stock around 4-5-8c when I was trying too this has cost be a fair bit..

ANyway shares trading on the regular.. Anything offered at 11c or below seems to be snapped up.. Options also starting to trade a bit anything 4c or below being snapped up which indicates some people are feeling positive on this as its not that long away..

YOUNG_TRADER · 29 May 2009

Re: BMY - Brumby Resources

Hey Adobee, since the opies are 15c exercise with 8 months to go they offer good leverage and I suspect thats why they're moving

The Mkt Cap is still tiny and any discovery will result in a huge re-rating of the stock

This is still my sleeping giant of the Iron ore plays given its land position relative to AGO

Time will tell.........

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