OTCPK:TOUBF - Post by User
Comment by
markvrdon Jul 14, 2011 4:34pm
230 Views
Post# 18832839
RE: Think the flip side
RE: Think the flip sideI didn't have a chance to reply to this one earlier. Your thesis James was that a lot of retail investors bought or added shares after wellington news. In fact, based on the profile of the house positions over this timeframe, the houses that represent discount brokerages (TD, CIBC, RBC, BMO, Scotia) were all on the sell side and sells on average were at, or below the buys. That's where the weak hands were for the most part. I don't think it could have all been retail selling either.
On the net buy side, Morgan Stanley was far and away the largest and they cater to "high net worth" individuals and institutions generally. They are not typically your day traders or small speculators. There were others in there of similar typical profile (e.g. Barclays, etc). I'm not saying that these more savvy, wealthier investors never lose -- we all know they can be wrong. However, the typical flow of $$ is out of retail pockets into the deeper pockets -- market savvy and understand of buying low/selling high are why these guys are rich to begin with. The fact that they are big enough to chase prices around doesn't hurt matters either.
It was also quite a lot more than 1 million shares that changed hands -- was that a typo?