MEL - Meridian Energy

[Greekwatchdog]

lol Yeah, make for an interesting watch from the sidelines. Might need to have a drink handy..

[Maxtrade]

In with a cheeky bid for CEN too - happy to pick up some if they drop significantly, but not really expecting it to happen.

What happened to the sell off. Haven't seen any large volume of shares traded today yet. I know the trading day isn't over yet but surely they aren't just going to dump them on market end of the day for Mondays opening??

[blockhead]

In with a cheeky bid for CEN too - happy to pick up some if they drop significantly, but not really expecting it to happen.

What price you set your cheeky bid in at ?

[Biscuit]

What happened to the sell off. Haven't seen any large volume of shares traded today yet. I know the trading day isn't over yet but surely they aren't just going to dump them on market end of the day for Mondays opening??

Both CEN and MEL been rising steadily all day. Clearly the market is not expecting a big sell off any day soon.

[JohnnyTheHorse]

Both CEN and MEL been rising steadily all day. Clearly the market is not expecting a big sell off any day soon.

Likely all part of the plan. Pump it during the day, then selloff in closing auction. That way you'll feel like you got a great discount, even though you just got them at todays opening price. That's my theory anyway.

[BigBob]

What price you set your cheeky bid in at ?

A long way from were we are now... 🙂

[Biscuit]

Likely all part of the plan. Pump it during the day, then selloff in closing auction. That way you'll feel like you got a great discount, even though you just got them at todays opening price. That's my theory anyway.

You could sell a few now and take the chance to buy back at the close. Don't think I'd take that gamble though. Closing action could be interesting, but not really looking that way at the moment. Maybe they still asleep?

[blockhead]

That nails it down then !

[Maxtrade]

Do they legally need to have rebalanced the ETF by Monday morning NZT. ie does the sell off absolutely need to occur before closing today, or could it be pushed out through the day on Monday. Haven't seen anywhere near the volume of shares trade on or off market today as the rebalance was suggesting. 72 Million contact energy shares, a long way off from that! Also what happens if the ETF haven't sold them off by cut off time?
Could they just be holding off and stalling to freak the shorters out into buying pushing the SP up then selling off then?

Anybody really know?

[mfd]

I expect they've made arrangements with other institutions to shift the bulk at the end of the day for a small discount. I picked up a few a couple of weeks ago and will have another pop today just in case there's a big sale into the auction but I'm not too hopeful.