RE:With all the good storyGreat question.
Traders at CIBC, TD, UBS, Morgan Stanley seem to sell into weak bids, especially at the start of trading and end of day trading.
When you want to buy shares in a company, you want to pay as little as possible for your averages.
Spoofing occurs when you put a big bid in and smaller retailers or traders see the big bid and drive the price up.
Spoofing is also used on the sell side, when you put a big ask on the table and traders see the price as capped, or as a large block of shares are for sale, so we better sell into the bids, quick!!
Painting the tape occurs at the end of the day, where a trader might drive the price up, or sell aggressively into the weak bids to drive the price down to show a loss or smaller gain on the day. GSV has had this happening to it just about every single day. Five minutes to close and 10,000 shares are dumped driving the price down, sometimes significantly. At the start of the day shares are dumped on the market and drive the price down to indicate a down day, or that there are sellers dumping stock.
This happening heavily two days ago after the North Bullion news release. CIBC, TD, RBC, and other brokers were dumping shares heavily to take the wind out of the sails, especially after they worked so darn hard to bring the price down from $3.78 down to $3.05 or so. Once the price is brought down, they try like heck to vacuum up the shares they have sold at a lower price, creating a beneficial trade, while resuming the accumulation. The uncertainty over the price of gold also gave a perfect window to drive the price down on weakness in metals. This occurred in a very similiar fashion while we were waiting for drill results on North Bullion Pre-3.95g/ton release.
Now with some uncertain news out of the US manufacturing, the march up on gold is back, and now the dumpers are chasing their positions.
It is easy to get sucked into a conspiracy theory about why a share price drops on great news, but often it is to keep prices in check to accumulate more shares. The old saying goes that it is impossible to keep a great company down for long. These last two pieces of news are amazing, and the share price will hit 52 week highs in short order IMO.
GSV is a great investment with very humble, extremely talented management.
Hope that helps a little, enjoy the ride, including the ups and downs, it is all in your head lol.