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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 380.20+1.6%Nov 24 4:00 PM EST
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To: sense who wrote (168934)2/25/2021 10:27:42 PM
From: TobagoJack1 Recommendation

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SpedeReder

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RE <<But, while winding up for that pitch... I noted that in Johannesburg... the mining stocks all had strong performances... up on the day. And the least of those was Gold Fields. Chatting about it with a friend... a seven hour difference with New York... trading hours in Johannesburg 9 AM to 5 PM... trading hours in New York 9:30 AM to 4 PM... lazy bastards. But, ignoring pre-market trading, that still means the close in Jtown is 10 AM in New York. A half hour in overlap in trading... so trading is continuous. There isn't any coincident divergence to exploit in any arbitrage. But, there clearly was a difference in sentiment... between New York and Johannesburg... which wore off the moment Johannesburg closed. New York trading twice the volume in shares as trade in Johannesburg seems about right...

What does that mean ?>>

Noticed the same, and same w/ DRD

My only explanation is the below set, but even if I am right would not mean any advantage available to exploit

Investors in S African shares are local retail (small) and domestic and London-based institutions, and time-zone tagged by Americans and Canadians. I doubt there are many Asians in S African shares.

The locals and London folks may pay quite a bit of attention to local developments to do w/ legal / regulatory, electric power, labour relations, social (CoVid) developments, etc etc, whereas the N American lot may devote more attention to international and USA macro. Takes 24-hours for sentiment to fully converge / merge as awareness dawns w/r to whatever.
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