RE:RE:RE:Citigroup and Cormark are buyingthinkahead wrote:
The reason that the NXE share price passed FCU today is because of that Citigroup and Cormark buying.
Pretty sure I've observed Citi on the bid for several days. HighROI has been tracking Global X ETF (URA) accumulation since the end of July and it appears Citi is one of their house banks. Cormark has been a constant presense on the bid as well.
In private conversations, I've speculated that the Anonymous seller could be MGA. They have negative working capital and have JV funding requirements to meet. They cold be selling some NXE to raise cash.
Cormark and URA got wise to the selling, they have been in the habit of stepping aside early in the session to allow Anon to puke... then like clockwork they step in late in the session to mop up cheap shares. It's why I was confident NXE would close strong yesterday when BCSilver did his usual bottom ticking with his comically bad/amateurish TA.
Recently, it would appear that Anon selling is starting to dry up. The bidders will start to front run each other once they feel Anon is done.