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Woulfe Mining Corp WFEMF

Woulfe Mining Corp is a mineral exploration company. It is engaged in the acquisition, exploration and development of mineral properties.


GREY:WFEMF - Post by User

Post by Segusmundoon Jan 09, 2013 8:42pm
255 Views
Post# 20818118

No thanks to our seller

No thanks to our seller

I don't have level II here but the daily charts and Quotemedia seem to support one thing IMO. WOF shares are trading at higher prices during the day (demand), only to have these higher prices reduced by potentially by one unknown seller (supply). Notably, I counted that of the last 30 closing trades today, 26 of these 30 trades listed Broker: Scotia Capital, Inc. ("Scotia") as the seller. These 26 trades accounted for 140,000 of the 150,000 shares traded in the last hour. The other remaining 6 trades accounted for 10,000 shares traded at the close. During this trading period, share prices dropped from .28 to .27. I have no idea how much Scotia sold during the rest of the day.  However, the volume weighted average price ("VWAP") of all WOF shares sold today was .278, 2/10th of one cent less than its open.

These facts lead me to several possible conclusions: 1) demand remains for WOF at higher prices, 2) one broker, and perhaps one seller, is dampening prices by continued high volume share sales, 3) the VWAP of WOF shares at near .28 (demand) appear to be trying to hold their own against this sales pressure but are definitely under pressure from these single broker/seller sales, which today accounted for much of the total selling pressure volume (supply) and resultant lower price.

If these assumptions are correct, I don't think we are going to see increased share prices until either this particular seller/broker's shares are exhausted, or until buying pressure/demand overwhelms this particular seller/broker by a favorable NR, or other positive development. As always, my thoughts only. Good luck and DD to all. Seg. 

 

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