Alliance and Leicester / Northern Rock - how the smart money men made their money out of the turmoil - big wallets, strong nerves and weak politicians
This chart tells a fascinating tale.
1. Share price marked down on opening and drifts down all day
2. Last thing in the afternoon the market makers mark it down heavily as some fairly big sales come through from major investors bailing out and post a spread of 300 /600 halting sales.
3. Opens at £7.80 providing anywhere between a £1 and £1.80 per share for the market makers overnight - luvvly jubbly with massive volumes in first half hour.
4. Back to where we were yesterday morning as some take a profit on the day.
This looks like the boys shorted this one to perfection. Some cashing in yesterday but the ones with stronger nerves hung on until today and closed their positions first thing (probably 50 Mn shares in total) which brought in some more buyers - on the back of Darling's lies and smokescreen.