Today's TradingHere's a summary of today's trading by houses. It appears the overhang from TD dried up today, but as you can see, they are the most active trader on the buy and sell side so they may continue to play games with this stock.
Why would someone be selling at these levels when we are probably about a month away from significant news that should come in an environment of rising gold prices and major changes to the Ecuadorian mining laws? Could be anything. Maybe someone had to raise cash because of margin calls from oil trades, maybe someone is trying to create a selloff so they can accumulate at a penny or two lower. Since TD started buying hard after the dump, it could be that. Ultimately, the stock performed well today and absorbed all that selling, which in these thinnly traded markets with next to no institutional involvement in this stock, is pretty good.
Canada still allows house positions to show, whereas the U.S. exchanges do not. Traders get around this by using the anonymous rule that was rammed through in 2001, but I still find it valuable information on days like today because it shows the difference between a systemic selloff and a single trader dumping.
House Positions for C:EGX from 20150109 to 20150109 | 85 Scotia | 200,200 | 11,741 | 0.059 | 51,700 | 2,927 | 0.057 | 148,500 | -8,814 |
| 1 Anonymous | 263,000 | 14,995 | 0.057 | 136,000 | 8,000 | 0.059 | 127,000 | -6,995 |
| 9 BMO Nesbitt | 117,000 | 6,510 | 0.056 | 0 | | 117,000 | -6,510 |
| 19 Desjardins | 26,700 | 1,468 | 0.055 | 0 | | 26,700 | -1,468 |
| 28 BBS | 15,000 | 825 | 0.055 | 0 | | 15,000 | -825 |
| 79 CIBC | 24,000 | 1,360 | 0.057 | 20,000 | 1,200 | 0.06 | 4,000 | -160 |
| 80 National Bank | 500 | 30 | 0.06 | 0 | | 500 | -30 |
| 89 Raymond James | 2,700 | 152 | 0.056 | 2,800 | 163 | 0.058 | -100 | 11 |
| 36 Latimer | 0 | | 68,000 | 4,080 | 0.06 | -68,000 | 4,080 |
| 7 TD Sec | 463,400 | 26,004 | 0.056 | 834,000 | 46,715 | 0.056 | -370,600 | 20,711 |
| TOTAL | 1,112,500 | 63,085 | 0.057 | 1,112,500 | 63,085 | 0.057 | 0 | 0 |