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Samco Gold Ltd V.SGA.H

Samco Gold Limited is a United Kingdom-based company engaged in the identification and evaluation of opportunities to acquire interests in other assets or businesses. The Company was involved in the acquisition, exploration, and development of precious metal properties in Argentina. The Company has not generated any revenue. The Company's wholly owned subsidiary is MedCann Europe Limited.


TSXV:SGA.H - Post by User

Bullboard Posts
Comment by Goldbuggy2on Jul 17, 2007 8:50am
130 Views
Post# 13099731

RE: TD Securities Again...

RE: TD Securities Again...I am sorry T#1 as I should have been more specific in my explanation. Technically, "Shorting a Stock" is selling borrowed shares at a higher price, then buying them back and replacing them at hopefully a lower price, with the profit or loss being the difference in these two prices. A Broker will seldom allow you to short a stock which is technically a Penny Stock and especially with low volume, and as SGA is. So I believe you would be 100% correct in your assumption that nobody is "Shorting" this stock. At least not Technically anyway. On the other hand, there is other ways of doing this which perhaps can be used under the same terms. To me someone who sells all their stock, with hopes of buying back in at a lower price has just shorted this stock. Perhaps "Short Traded" is a better phrase. So to quote your statement T#1, "Someone (who) is trying to get the price down, so the financing price will be as low as possible, because they intend to buy in big (in relation to their investment) if they can get it really low." is short trading it because they have to sell some shares, at a lower price, to get the price down. Of course bashing on the BB might help as well, but of this I am not so sure. So I use the term shorting this stock not in the technical sense but in the sense, and as you explained, as someone trying to get the price down by dumping some shares at a lower price. They may have sold most of their shares on the high and are now trying to get back in at a low, or just want to buy more at the offering, as you suggested, and at a lower price. The reality of the whole thing is nobody, and I mean nobody, as in this case with TD Securities, sells shares time and time again, like they did last week and month. I mean sell a small volume like 500 shares, at the close, to drop the price C$0.05, unless that was their purpose. Especially when I have seen this happen many times, and only with, TD Securities. I should also point out that it is because the shares are held closely with this company, and volume selling is very low, that he can get away with it. On a day with very little buying action he can set a low stink bid price in, then later sell his own shares to himself, and as I saw and suspect he has done many times here already. What would it cost him to do this? The commission on buying and selling 2,000 shares, is what? Maybe C$80 tops, verses actually selling at this low price and perhaps take a larger loss. Pretty small investment when you intend to buy 20,000 shares at C$0.10 lower. A coincidence is a coincidence, but when you constantly see the same things happening time and time again, with the same trading company, I think it best you start looking for other answers, and not just right it off as just a continuous fluke. What ever it is, or what you want to call it, this is no coincidence T#1! This is deliberate! GB
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