Trading so far todayOnce again, it appears that someone is attempting to cap this stock. I'm posting this mid-day as it illustrates the method they are using. They don't appear to be selling in order to get the best price because anyone who wants the best price would try to create rallies. They would be hitting the ask once in a while, not just the bid. Then they would sell into a higher bid. The way these (relatively) large orders keep appearing immediately after someone else hits the ask makes me think they are trying to contain the stock before news, afterall nothing evokes negative sentiment faster than a large ask price that just won't go away. I say relatively large, because we are talkng about a $.06 stock and the amount of money changing hands is pretty paltry especially for an institutional trader or for any mid-sized indiviual trader. They are buying anonymously as well. This is likely the same trader(s) (TD-Anonymous).
This is possibly a potential buyer, it wouldn't be the first time this trick was employed. If there is some behind the scenes negotiations going on as Brendon has suggested, and an offer is presented at the time of the PEA,, it would be based the average trading price of a specific number of trading days (think it's seven) with a premium. What's a few million shares sold stratigically during a news blackout when it might save you millions on a buyout price?
If this was really about someone knowing something, we'd be seeing more net sellers not just one.and with the share concentration of this stock, we'd be seeing serious net selling.
Again, it's up to each investor to decide whether it's someone who knows something bad, or something good. I'm still reading this as something good, but I dislike this anonymous rule that lets traders hide their intentions. I've spoken to several regulators about this rule over the years and they don't like it either, but they said the brokerages threatened to move their business elsewhere if the TSX didn't accept it. After all, American traders don't need to reveal house positions so why should they?
This is the perfect week for a gold takedown (FOM meeting and options expiration) and the fact that gold is so strong today tells me it should clear $1300 sometime towards the end of this week or definitely next week. There are too many forces pushing gold higher at this time.
Recent Trades - Last 10 of 11
| 11:21:21 |
V |
0.055 |
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4,000 |
1 Anonymous |
1 Anonymous |
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| 11:21:21 |
V |
0.055 |
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1,000 |
89 Raymond James |
1 Anonymous |
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| 11:21:21 |
V |
0.055 |
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10,000 |
1 Anonymous |
1 Anonymous |
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| 09:30:21 |
V |
0.055 |
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11,000 |
1 Anonymous |
1 Anonymous |
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| 09:30:21 |
V |
0.055 |
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10,000 |
1 Anonymous |
1 Anonymous |
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| 09:30:21 |
V |
0.055 |
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10,000 |
1 Anonymous |
1 Anonymous |
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| 09:30:21 |
V |
0.055 |
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19,000 |
7 TD Sec |
1 Anonymous |
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| 09:30:00 |
V |
0.06 |
0.005 |
27,000 |
2 RBC |
1 Anonymous |
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| 09:30:00 |
V |
0.06 |
0.005 |
5,000 |
2 RBC |
1 Anonymous |
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| 09:30:00 |
V |
0.06 |
0.005 |
8,000 |
2 RBC |
1 Anonymous |
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