MOC orders I hope you're right on the possibility of a NR prior to the AGM. In the meantime, here's a little bit of info. from Jim Sinclair on MOC orders, that was hitting his company as well. The difference is that he knows what is going and and will speak up - he actually called the specialist who was making the market and gave him an earful. Here's Jim's wisdom to show that the market action was deliberate today.
A Definition Of Market On Close Orders
December 23, 2012, at 10:45 am
by Jim Sinclair in the category General Editorial | Print This Post | Email This Post
My Dear Friends,
A part of being of service to you is that I do not talk down to you. Rather, I ask you to define words from an investment/financial dictionary and provide the same on this web site.
A key part of the high volume price moving near and at closing transactions Friday, towards month end, is the use of the MOC order. Those seeking to get the attention of investors by disorder in markets resulting in fear or greed to benefit their own positions utilize this kind of order to shock markets. Nobody in their right mind would ever use MOC orders if they wished to liquidate or accumulate a situation in an orderly manner.
Almost to an event there has been no fundamental reason for the movements MOC orders create in the common shares of the company. MOC orders are used to paint charts religiously. MOC orders have been the most popular way of trying to hurt investors, thwart builders of companies and profit from destructive actions. The sources of these MOC transactions are world class negacrats and those that destroy more for pleasure of causing pain than even profit. The MOC order is a common tool of the new normal culture of destruction, so popular amongst the sociopaths in finance.
The only intent of a MOC order is to destabilize a market plus or minus. The specialist on the NYSE or NASDAQ knows exactly what an MOC order will do destabilization wise, yet takes profits and sick pleasure in a disorderly close up or down.
The MOC order is a paper trail directly to the who of manipulation. The MOC order has no rational business purpose. The specialist executing the MOC order will always deny responsibility on the standard war crimes claim of I was only following orders. Someday that lame excuse will be tested in civil action.
I believe the responsibility for constant forays of disorder in the markets of gold shares, especially juniors and junior producers, is on the shoulders of the specialist on the legal basis of "knew or should have known" the impact of his/her actions. The more the specialist cooperates with a singular MOC order giver in a singular situation compared to the specialist position even intraday, the greater the potential is that in civil litigation brought by a company on behalf of its stockholders, the specialist firm because of their motive, will not prevail in court.
Each time the specialist executes a MOC, the who is revealed in a paper trail, and the actual doer of the deed, the specialist, knows exactly what destabilization he/she is about unleash. Now it is joke to brag about at the bar after the code will their scummy friends.
The entity with the most exposure utilizing MOC orders for manipulation is the SPECIALIST. In my youth I specialized in 35 companies making markets. I do not think but rather know about what I speak.
I quit making markets not because of lack of profit, but lack of respect for what I was doing because all specialists spend their days being professional liars. The specialist KNOWS exactly what he is doing and for whom, with the goal of accomplishment price wise totally obvious to him.
Respectfully,
Jim