RE:Watch the 150k shares held by (1 investor?) at Scotia (85)Guess who sold most of the shares at .69 today....? Scotia! (85)
ChaseYourDream wrote:
April 14, they cleaned out the supply, buying almost 100k shares in two blocks at .415 and .40, and opening the door for the next low-ball bid to snap up 5,000 at .39 (a stop order?).
Price back to .44 the next day and immediately another 47,000 buy from Scotia buy kicks in .045 cents lower, at .395. Who would sell large blocks below value, three times, to the same buyer? Laurentian (48), every time.
What is the Scotia buyer going to do with 150k shares? Of course not every trade out of Scotia will be the same person, but it's odd how often 85 has triggered a SP decline:
1) April 22: Dropped .43 down to .41 and .40, selling 2000 and 500;
2) April 25: SP at .45; Scotia drops price buying 5,000 at .42;
Apr 26: SP back to .44 (1 trade)
3) Apr 27: Scotia sells 3,000 at .40;
(4?) Apr 28, Scotia buys 1000 at .41, half a cent below earlier sales (likely someone else).
Today its a new big boy, the National Bank (53) buying 54,500 shares at .42. I wonder what they will do with their shares?
By the time anyone reads this, how many more gap downs will have been triggered by these players?