House Positions and Unusual TradingTo start, I cannot speak for GoPats, but I agree neither he nor anyone, even in the company, knows what is behind this very unusual trading through TD. I have spoken to people who might know, and they are baffled. A reliable source says they have spoken with someone at TD institutional desk and suspect that the trading is only being channelled through TD brokerage (and not originating there) because TD traders are unaware of this trading or who is doing it; and, no one has asked around to look for traders who have buyers for a significant number of shares as would normally occur on a trading desk or even between brokers.
Why put this kind of volume through a secondary broker and spend $400,000+ (to 800,000?) in fees and losses, with no sign of an increase (or decrease) in actual shares held? (I know this question has been asked before.) My impression is that in trading these 13 M shares, thus far, this has kept a firm lid on the price, however. And, it has scared away legitimate buyers who wonder if the share price is going to go down .10 or more due to nothing at any time with unexplained volatility.
There is absolutely no real market price discovery because this trader variously sells and buys whatever is on the ask or bid, according to some nefarious scheme, and in so doing keeps the market price very close to a specific number that only they know. Of course, their action is close to the median or average daily price, because they have established this number having done by far the bulk of the transactions.
And, of course, it cannot be repeated often enough: this incredible volume has nothing to do with fundamentals and has occurred on no news.
Is JnJ or another party nefariously planning a hostile bid, based on the volume adjusted price over the past 10 days, that has been kept down by this abberrant trading, for example? (That would certainly make TSO3 a steal of a deal!!) Are a few brokers working together to hold the share price here on huge unusual volume to allow such a hostile bid to be made?
Note that MS continues to sell their 100 shares all day long into the bid (with a few at the ask just to be 'fair', lol), as needed, to help keep the price down. ML was a tiny bit on the buy side, today; but, nearly all the buying is attributable to Scotia, again. It was almost humourous to see presumably a small retailer at UBS come in the end of the day and buy 36,000 shares in a number of trades at the ask, bring the price up to 2.77. But, within moments and with only seconds left in the trading day, TD, almost in a panic, had sold it back down to 2.72, and the others levelled it out at 2.74 at the close. Those darn buyers at 15, mixing up 7's well laid plans!
Some of us have been anticipating very positive new analyst coverage out of the US any time now; but, with such incredible share price volatility and depression, has this analyst (or analysts) decided to hold off publishing anything until the dust settles?
The bear raid starting on Nov 7 post quarter and cc was an obvious but not blatantly illegal manipulation by shorters who had just built up 1 - 1.4 M more shorts in the preceding days, as has been previously explained. Again, I believe this initial bear raid and TD's role in it might not be related to the present bizarre volume through TD, as while TD seemed to start trading noticably in TOS just after the cc they accounted for only a fraction of the overall trading, and on the 7th they were actually net buyers:
| Broker Positions for C:TOS Broker #7 from 20161107 to 20161107 |
| 20161107 |
268,371 |
749,027 |
2.791 |
237,150 |
665,970 |
2.808 |
31,221 |
31,221 |
-83,057 |
-83,057 |
| TOTAL |
268,371 |
749,027 |
2.791 |
237,150 |
665,970 |
2.808 |
|
31,221 |
|
-83,057 |
Later in that week the volume fell off as a significant percentage of the manipulating shorts took their profits and covered, TD ended up net selling about the same number Tuesday to Friday as they had bought net on Monday:
| Broker Positions for C:TOS Broker #7 from 20161108 to 20161111 |
| 20161108 |
85,535 |
239,391 |
2.799 |
60,910 |
171,251 |
2.812 |
24,625 |
24,625 |
-68,140 |
-68,140 |
| 20161109 |
36,455 |
100,411 |
2.754 |
48,212 |
132,890 |
2.756 |
-11,757 |
12,868 |
32,479 |
-35,661 |
| 20161110 |
46,400 |
125,379 |
2.702 |
108,048 |
292,559 |
2.708 |
-61,648 |
-48,780 |
167,180 |
131,519 |
| 20161111 |
52,167 |
131,567 |
2.522 |
38,710 |
99,367 |
2.567 |
13,457 |
-35,323 |
-32,200 |
99,319 |
| TOTAL |
220,557 |
596,748 |
2.706 |
255,880 |
696,067 |
2.72 |
|
-35,323 |
|
99,319 |
I will again be filing a formal complaint to IIROC regarding the extremely unusual TD trading in the past 10 days. You can bet they are analyzing these shenanigans with their fancy AI programs. And, they can fit the Anonymous trades into the mix, too, as we cannot. But, what they don't know from the numbers and what they need to hear loud and clear is that
there is, in fact, absolutely no fundamental reason or news behind this anomalous trading, either in volume or in share price. There is another motive. IIROC needs to hear this not only from shareholders, (and, they will from me), but they need to have the company confirm to them that there is absolutely nothing material to explain these trades. This will happen, tomorrow, I assure you.
There is one other variable that should be made clearer, tomorrow, too; but, I won't discuss it until after trading tomorrow, just in case the purps read these silly blogs, and some excessively long posts such as this one. :))
I had hoped for news to come today, as it did last year at this time; but, as per the cc, I am completely confident substantial good news is coming imminently and is all positive. The only question for us, "Will it be in time to catch out the remaining shorts and manipulators and squeeze them?"
This present share price in no way reflects the intrinsic value of TSO3, now or in the future, and, as others at Scotia attest by their strong buying interest, TOS remains a screaming buy, IMHO.
| House Positions for C:TOS from 20161123 to 20161123 |
| 1 Anonymous |
432,600 |
1,158,698 |
2.678 |
972,100 |
2,615,538 |
2.691 |
-539,500 |
1,456,840 |
| 19 Desjardins |
4,100 |
11,076 |
2.701 |
50,345 |
135,285 |
2.687 |
-46,245 |
124,209 |
| 53 Morgan Stanley |
2,500 |
6,680 |
2.672 |
23,892 |
64,425 |
2.697 |
-21,392 |
57,745 |
| 101 SG Capital |
0 |
|
13,700 |
37,092 |
2.707 |
-13,700 |
37,092 |
| 80 National Bank |
20,600 |
56,318 |
2.734 |
31,666 |
85,514 |
2.70 |
-11,066 |
29,196 |
| 9 BMO Nesbitt |
4,100 |
10,911 |
2.661 |
15,008 |
40,522 |
2.70 |
-10,908 |
29,611 |
| 124 Questrade |
370 |
999 |
2.70 |
4,100 |
11,261 |
2.747 |
-3,730 |
10,262 |
| 99 Jitney |
10,800 |
29,172 |
2.701 |
12,400 |
33,332 |
2.688 |
-1,600 |
4,160 |
| 88 Credential |
0 |
|
300 |
810 |
2.70 |
-300 |
810 |
| 36 Latimer |
1,074 |
2,896 |
2.696 |
810 |
2,183 |
2.695 |
264 |
-713 |
| 33 Canaccord |
300 |
815 |
2.717 |
0 |
|
300 |
-815 |
| 18 Echelon |
500 |
1,325 |
2.65 |
0 |
|
500 |
-1,325 |
| 2 RBC |
19,800 |
53,331 |
2.693 |
14,570 |
39,520 |
2.712 |
5,230 |
-13,811 |
| 89 Raymond James |
8,900 |
23,843 |
2.679 |
0 |
|
8,900 |
-23,843 |
| 22 Fidelity |
10,763 |
29,060 |
2.70 |
0 |
|
10,763 |
-29,060 |
| 90 Barclays |
16,800 |
45,016 |
2.68 |
2,800 |
7,551 |
2.697 |
14,000 |
-37,465 |
| 7 TD Sec |
2,606,180 |
7,009,082 |
2.689 |
2,589,605 |
6,950,168 |
2.684 |
16,575 |
-58,914 |
| 79 CIBC |
34,020 |
91,454 |
2.688 |
15,700 |
42,054 |
2.679 |
18,320 |
-49,400 |
| 39 Merrill Lynch |
151,303 |
408,149 |
2.698 |
131,000 |
354,547 |
2.706 |
20,303 |
-53,602 |
| 72 Credit Suisse |
23,500 |
63,136 |
2.687 |
100 |
276 |
2.76 |
23,400 |
-62,860 |
| 13 Instinet |
106,900 |
285,981 |
2.675 |
83,084 |
223,291 |
2.688 |
23,816 |
-62,690 |
| 15 UBS |
36,000 |
97,217 |
2.70 |
0 |
|
36,000 |
-97,217 |
| 85 Scotia |
481,160 |
1,288,269 |
2.677 |
11,090 |
30,059 |
2.71 |
470,070 |
-1,258,210 |
| TOTAL |
3,972,270 |
10,673,428 |
2.687 |
3,972,270 |
10,673,428 |
2.687 |
0 |
0 |