Selling mainly by TradersI have been watching many of the venture stocks for a few weeks. The traders (brokerages that buy and sell approximately the same amont of shares daily) are active on many stocks. Jitney has piqued my interest because in the majority of stocks that they run up and down they are in a loss position at the end of each day.
Today so far the major sellers are PI, ITG, and Dundee - little buying.
The buyers and sellers are Anonymous, BMO,Canaccord, CIBC, E-Trade, Jitney, RBC, Scotia and TD - by the end of the day most will have sold and bought a fairly equal number of shares looking for that .005 per share profit.
The buyers today are Leede, Laurentian, Bolder, Odlum, Global, Nomura, HSBC, Research Capital, Questrade,
Merrill, and National Bank. They may sell later too if the price goes up.
On the TSX the more pricier stocks are traded for the pennies by Goldman Sachs, JP Morgan, and all of the Canadian Banks.
All part of the game. Buy and hold is a heart attack waiting to happen if you don't understand these traders.
They don't seem to run the stocks that have no resources.
At least now they do run them back up - back in 2007/8 they just shorted them down down down.
It is disheartening but it they weren't here trading and bringing activiity to the stock then we would be watching a dead stock price unless a newsletter writer makes a reccommendation - this is when volume and price picks up for a day or two with no obvious reason.
I just hope that when the assays do appear that the market is up and gold is up or regardless of how good they are they may get sold down by the traders as they short sell to pick up later at a low price and carry on with the game..
I don't mean to be negative - the exploration team and project are great - it is this environment of the trading and not holding that is turning investing into pure gambling and he who has the most $ can control the stock runs.
Wishing you all the best on this venture and all the other ones you hold.
Susan