GREY:ALXDF - Post by User
Post by
goldopportunityon Jul 12, 2017 5:39pm
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Post# 26462295
Fwiw.......
Fwiw.......- Alxdf closed unchanged at usd .0585 = cdn .0748 (boc 1.2794 close) -- last trade 3:47 pm
- Azx closed at cdn .065 (down half-cent) -- last trade 3:59
The idiot MMs today may have been reacting to the bank of canada raising interest rates for the first time in 7 years. I sight 2 glaring examples:
1) alxdf had that opening salvo with that trade down to usd .05
2) azx saw the idiot MMs put up a IM+ on the surface .07 ask in early afternoon. Their plan to incite selling was a dud as there was no trading from 1:31 to 3:59 pm when an idiot sold into the .065 bid
But some of the MMs were buying, like 09bmo with 200K and 079cibc with 169K -- both at cdn .07.
Bottom-line:
This is pure speculation but I wonder if we also might be seeing a bit of rivalry between the otc and cdn alexandria MMs, as in "I'm going to direct where the sp goes".
Evidence: the last otc trade at .0585 occured a full 13 minutes before the close -- the MMs chose to "allow" that price to be the day's print. The last cdn trade at cdn .065 was at 3:59 pm when the previous trade at 1:31 was at .07 -- imo, this also was a conscious decision by the MM to paint the azx chart. The result: about a one cent closing differential (after allowing for currency exchange) between the two tickers.
Btw, at the close it appeared the otc MMs have put usd .06 as their immediate st line-in-the-sand with idiot canaccord's 109K ask, whereas cdn MMs line is cdn .07. So we'll see what happens. Jmvho.
P.s. So Yellen turned from a hawk into a dove today. Great news for the SMs and will soon light an even more powerful fire under gold and gold stox. Btw, this was the second consecutive day of higher highs, higher lows in gold and the gold indices -- and no up gaps!! Beauty. As may you know I hate gaps of any kind b/c 91% of them always get filled eventually.
goldopp