Over the Weekend Volume

[Atomic_Sheep]

What are those massive volume spikes between 4PM Friday and 10AM Monday in Commsec?

 

[Atomic_Sheep]

Actually, they are there between all days, not just over the weekend. Anyone know?

 

[frugal.rock]

If you check the course of trades, you may find out more.
Do you realise that the closing auction is from ~4:00pm to 4:10pm?
So, in the picture (Jan 29, 2020), the closing auction trades end at 4:10 (they will generally all be the same time),
then you see some market bigwigs actions. L1 =late trade, XT = cross trade. Dunno what L3 means yet.
Occasionally there are trades that show as having occurred before 10am also.
Hopefully this clears up your volumes queries?
Cheers.

F.Rock

 

[Atomic_Sheep]

Thanks for the reply, I had no idea about any of this, will do some reading, thank you.

 

[frugal.rock]

You are most welcome.
I suggest you start with the ASX page covering trading hours.

 

[Atomic_Sheep]

Yes going through that now, thanks.

 

[Atomic_Sheep]

Any clues as to why these outside market hours trading sessions make market time volume practically irrelevant? It seems like no one trades between 10 and 4. After 4 everyone puts in their orders?

 

[frugal.rock]

Any clues as to why these outside market hours trading sessions make market time volume practically irrelevant? It seems like no one trades between 10 and 4. After 4 everyone puts in their orders?

The majority of shares traded take place in normal trading hours.
Some stocks, usually it's the smaller speculative stocks, that do what you have suggested though.
This means price movements are generally happening at auction close/ open.
Gap ups, downs occur on open and close frequently.
Read up on the DOM, depth of market.
BUD and RXL are examples where this style of trade frequently occurs.

For a stock that doesn't trade much, if there's little selling pressure, it's a way to increase the SP (share price) and of course, the reverse.
Selling pressure to reduce the price, where there's little support buying... probably the situation for many stocks currently.
Caution.
If you have cash to burn, buy now!
Otherwise you would be wise to learn up, you will see the signs of the market returning in 3 months or 6, or 9 etc no rush at the moment...it will be obvious and based on the virus status... and also the fallout from the virus impacts.
Some stocks won't ever recover...

F.Rock

 

[hja]

The majority of shares traded take place in normal trading hours.
Some stocks, usually it's the smaller speculative stocks, that do what you have suggested though.
This means price movements are generally happening at auction close/ open.
Gap ups, downs occur on open and close frequently.
Read up on the DOM, depth of market.
BUD and RXL are examples where this style of trade frequently occurs.
F.Rock

But if they are high volume spikes, suggesting institutional activity, then it would still be important to use the closing prices on daily charts when drawing lines.

 

[Atomic_Sheep]

I'm seeing this behavior for a number of large stocks which is what I'm finding surprising. I guessed that this would be the domain of penny stocks, but it's not. Very surprising.

 

[frugal.rock]

Good work on your observations.
Have you noticed that many stocks have announcements of not substantial holder and then 2 or 3 days later becoming a substantial holder... Eg, NCZ.
Institutional trading is rife ATM.
Consider traders as sheep.
Instos are the shepherd and the wolves in sheep's clothing...
The share price goes where they want it to... it shows clearly in the DOM at certain points.
The market in general gets mustered all the time, ATM, it's rife.
Don't get fooled by the sucker rally's occuring currently....
My

F.Rock