Peregrine Diamonds Ltd. PGDIF

volume

[cudjo]

jump, over 4 million

[griefman]

Yes, only 100K or so on the TSX: PEREGRINE DIAMONDS LTD. (CA:PGD) Size Bid Ask Size 10832500 0.235 0.240 2610500 3399500 0.230 0.245 280000 120000 0.225 0.250 73500 15500 0.215 0.260 1000

[shneps]

So it's Instinet buying over 2.3 million on the Aequitus exchange. Did anybody see who bought a million on the Alpha exchange. As a little guy I hate black pools. Cheers

[cudjo]

Instinet invest 540K C$ to make 11.5K C$ in 30 days, what kind of return is that?  Just a little over 2%, less commission, seems hardly worth the trouble, conversly, would someone dump 2.3 million shares and leave 11.5K on the table, plus commission, only if they had to pull.  Games within games, still a littler hope for the longs IMO.

[griefman]

Well, I wouldn’t exactly characterize this trade as a game, just differing outlooks on what is reasonably a 50/50 chance, or actually a lot less on a white knight scenario, maybe 95/5, pushing the offer higher. Cant hurt to dream, but it does make you wonder why the need to liquidate a position now when you know you will almost with certainty get 24 cents for each share, unless you really need

[shneps]

All that speculation is based on the arbitrage. As Kodi says they could be speculating on the higher bid or they could be collecting shares for an unknown entity. They certainly are doing all this off of the normal retailers screen and fishing in multiple pools. I hope somebody catches a big one. ; )