RE:RE:RE:Inquiries@iiroc.caCIBC is the main player in Canopy now doing a whopping 20% of the volume (both buys and sells since September. In the recent month they've increased their activity to 23%. They are running a good algo. Check out these stats and remember that this is for the house and therefore incl everyone they do business on behalf of (retail, institutional, funds and possibly themselves). So From Sept 1 to present CIBC #79 has: Bought 155,671,109 shares at an ave of $25.409 Sold 155,594,690 shares at an ave of $25.534. So after buying AND selling 155m shs they are net ONLY +76,419 shares which is insane when you think about it. Well maybe when you think about it but for someone like me that used to trade for one of the Big 5 pre HFT/Algo trading it blows my mind that they are able to trade that size so tight. Hence 80% or whatever of traders replaced my computers I guess in the last decade and a bit :) Anyway lots of trades making them a cool $15million profit. Is it possible the algo was "walking down" the stock? Maybe. But keep in mind that the algo's react to the order flow not create it. It doesn't matter to the algo if the stock is going up or down, it just runs all day, never taking a lunch or smoke break picking up dimes wherever it can. Personally I would like to see all these things forced off for many reasons I wont get into but I think they are here to stay so you have to learn to live with them.
GoldenMoose wrote:
hey buck. Can you explain the action with house 079 today? Seemed like it was being walked down to me. Looking forward to your explanation. Moose