Post by
The300 on Feb 09, 2011 6:28pm
Cleaning up the market
I believe today was a very good sign that the Halo market is being cleared of overhang.
There has been alot of conjecture on this forum that Dwek/Mineralfields has been providing most of the selling pressure which brought us down to $.40.
If that is true, I would imagine that Cannacord coming into the market to cross out 400,000 shares was likely clearing out part of Mineralfields position.
It makes complete sense to cross out Mineralfields, assuming they are agreeable to it, as Mineralfields gets to move out large blocks at a better price than if they were just selling in the open market, and on the flip side, Halo and its shareholders don't have to bare the brunt of the selling pressure.
Either way, the market looks much better today than it has in a while. Bids are building, and asks are being pulled.
Hopefully this is a sign of things to come.
As always, the above is my humble opinion.
Regards,
The 300