RE:AccumulationYes there clearly was an accumulation by BMO in the last 2 weeks and it is once again one single BMO buyer today.
If you then go into the 6 months house positions, you will only find 2 “conviction buyers”; BMO with net 1,8 Mil shares and RBC with 1.1 Mil. Both bought with an average of $0.085. Looking at this objectively, there is only one conclusion: These buyers are averaging down which tends to be a very unhealthy strategy, especially in micro / nano caps.
A few people “believe” / believe that they know more than Mr. Market. It does happen but it’s certainly the exception. More often than not, this is based on “sweet talking”. Serious accumulation based on “knowing more than the market does” tends to come from houses like Anon and Jitney, both of which have been net sellers for some time.
As someone who has traded EUO for 10 years plus, I certainly hope that these buyers have an edge on the market but I will happily wait for this edge to be real. I may forego the first 20% of the upside but more importantly, I won’t expose myself to the +/- 50% downside.
| Recent Trades - Last 10 of 17 |
| Time ET | Ex | Price | Change | Volume | Buyer | Seller | Markers |
| 12:26:48 | V | 0.075 | 0.005 | 15,000 | 9 BMO Nesbitt | 7 TD Sec | |
| 12:26:48 | V | 0.075 | 0.005 | 8,000 | 9 BMO Nesbitt | 85 Scotia | |
| 12:26:48 | V | 0.075 | 0.005 | 27,000 | 9 BMO Nesbitt | 1 Anonymous | |
| 12:26:48 | V | 0.075 | 0.005 | 15,000 | 9 BMO Nesbitt | 85 Scotia | |
| 12:26:48 | V | 0.075 | 0.005 | 12,000 | 9 BMO Nesbitt | 85 Scotia | |
| 12:24:24 | V | 0.075 | 0.005 | 6,000 | 9 BMO Nesbitt | 1 Anonymous | |
| 12:24:24 | V | 0.075 | 0.005 | 3,000 | 9 BMO Nesbitt | 1 Anonymous | |
| 12:24:24 | V | 0.075 | 0.005 | 1,000 | 9 BMO Nesbitt | 1 Anonymous | |
| 09:30:00 | V | 0.07 | | 400 | 59 PI | 2 RBC | |
| 09:30:00 | V | 0.07 | | 8,000 | 85 Scotia | 2 RBC | |
| House Positions for C:EUO from 20171001 to 20171016 |
| House | Bought | $Val | Ave | Sold | $Val | Ave | Net | $Net |
| 9 BMO Nesbitt | 1,170,750 | 84,260 | 0.072 | 121,000 | 8,730 | 0.072 | 1,049,750 | -75,530 |
| 124 Questrade | 100,000 | 7,350 | 0.074 | 41,500 | 2,905 | 0.07 | 58,500 | -4,445 |
| 74 GMP | 20,000 | 1,500 | 0.075 | 167 | 12 | 0.072 | 19,833 | -1,488 |
| 57 Interactive | 10,000 | 750 | 0.075 | 0 | | 10,000 | -750 |
| 59 PI | 800 | 56 | 0.07 | 500 | 35 | 0.07 | 300 | -21 |
| 14 ITG | 50 | 3 | 0.06 | 0 | | 50 | -3 |
| 13 Instinet | 10,000 | 700 | 0.07 | 10,000 | 700 | 0.07 | 0 | 0 |
| 7 TD Sec | 268,495 | 18,836 | 0.07 | 268,750 | 19,890 | 0.074 | -255 | 1,054 |
| 99 Jitney | 88,000 | 6,160 | 0.07 | 90,000 | 6,500 | 0.072 | -2,000 | 340 |
| 85 Scotia | 110,800 | 7,842 | 0.071 | 156,500 | 11,487 | 0.073 | -45,700 | 3,645 |
| 2 RBC | 77,755 | 5,640 | 0.073 | 134,838 | 10,019 | 0.074 | -57,083 | 4,379 |
| 22 Fidelity | 0 | | 84,395 | 5,907 | 0.07 | -84,395 | 5,907 |
| 80 National Bank | 25,000 | 1,875 | 0.075 | 200,000 | 15,000 | 0.075 | -175,000 | 13,125 |
| 1 Anonymous | 733,000 | 53,135 | 0.072 | 1,507,000 | 106,922 | 0.071 | -774,000 | 53,787 |
| TOTAL | 2,614,650 | 188,107 | 0.072 | 2,614,650 | 188,107 | 0.072 | 0 | 0 |
| | | | | | | | | |
| House Positions for C:EUO from 20170616 to 20171016 |
| House | Bought | $Val | Ave | Sold | $Val | Ave | Net | $Net |
| 9 BMO Nesbitt | 2,357,750 | 201,176 | 0.085 | 580,030 | 53,157 | 0.092 | 1,777,720 | -148,019 |
| 2 RBC | 1,443,108 | 118,857 | 0.082 | 320,451 | 28,282 | 0.088 | 1,122,657 | -90,575 |
| 33 Canaccord | 167,000 | 15,195 | 0.091 | 25,000 | 2,250 | 0.09 | 142,000 | -12,945 |
| 68 Leede | 25,000 | 2,000 | 0.08 | 0 | | 25,000 | -2,000 |
| 59 PI | 6,688 | 585 | 0.087 | 3,237 | 292 | 0.09 | 3,451 | -293 |
| 28 BBS | 100 | 10 | 0.10 | 0 | | 100 | -10 |
| 14 ITG | 50 | 3 | 0.06 | 0 | | 50 | -3 |
| 39 Merrill Lynch | 0 | | 2,000 | 165 | 0.083 | -2,000 | 165 |
| 83 Mackie | 0 | | 2,000 | 160 | 0.08 | -2,000 | 160 |
| 19 Desjardins | 25,300 | 2,230 | 0.088 | 30,000 | 3,050 | 0.102 | -4,700 | 820 |
| 13 Instinet | 50,000 | 4,150 | 0.083 | 69,000 | 5,745 | 0.083 | -19,000 | 1,595 |
| 58 Qtrade | 14,000 | 1,330 | 0.095 | 55,000 | 4,400 | 0.08 | -41,000 | 3,070 |
| 124 Questrade | 171,000 | 12,855 | 0.075 | 229,850 | 20,626 | 0.09 | -58,850 | 7,771 |
| 57 Interactive | 11,000 | 840 | 0.076 | 102,865 | 9,749 | 0.095 | -91,865 | 8,909 |
| 85 Scotia | 622,850 | 54,345 | 0.087 | 735,700 | 63,431 | 0.086 | -112,850 | 9,086 |
| 22 Fidelity | 0 | | 133,395 | 10,427 | 0.078 | -133,395 | 10,427 |
| 143 Pershing | 0 | | 150,000 | 12,750 | 0.085 | -150,000 | 12,750 |
| 74 GMP | 93,000 | 7,980 | 0.086 | 244,667 | 24,792 | 0.101 | -151,667 | 16,812 |
| 99 Jitney | 111,000 | 8,420 | 0.076 | 308,500 | 27,640 | 0.09 | -197,500 | 19,220 |
| 79 CIBC | 551,000 | 53,941 | 0.098 | 765,000 | 73,242 | 0.096 | -214,000 | 19,301 |
| 80 National Bank | 55,000 | 4,875 | 0.089 | 299,400 | 23,020 | 0.077 | -244,400 | 18,145 |
| 7 TD Sec | 1,596,332 | 139,894 | 0.088 | 1,848,483 | 157,046 | 0.085 | -252,151 | 17,152 |
| 89 Raymond James | 200 | 19 | 0.095 | 537,000 | 43,430 | 0.081 | -536,800 | 43,411 |
| 1 Anonymous | 1,829,500 | 148,615 | 0.081 | 2,688,300 | 213,666 | 0.079 | -858,800 | 65,051 |
| TOTAL | 9,129,878 | 777,320 | 0.085 | 9,129,878 | 777,320 | 0.085 | 0 | 0 |