Fwiw..........Alxdf closed at usd .07 = cdn .0879 (boc 1.2562 close)
The market today spoke its unequivocal support of this am's nr which included:
1. the BoB's decision to axe EO
2. to provide a timely update on the ceo position
3. reiterating the task of the SC to examine "strategic alternatives for the company"
4. sent a strong, subliminal message that there's a new sheriff in town
5. the BoD (and sprott) want to unleash and maximize the company's full potential
The market liked what it heard and sent alxdf up close to 15%, and azx climbed almost 12%. Both stox saw the majority of trading in the am. Except for a few splatterings here and there, volume pretty much dried up in the afternoon as the pros were trying to bid down the price. All good as we got a few of the weak hands out.
By mid-afternoon and into the close, the spread on the alxdf best bid/ask was an astounding .014. Wow! Remember, the wider the bb/ba spread the more they covet your shares. The pros did things a little differently on azx. They simply lowered the surface bid # and increased the surface ask #, thinking you'd take the bait. Again, very few sellers in the afternoon. Note: the market depth ask #s in both stox are low and nicely spread apart. You want the stock, you have to pony up.
Beautiful pop in gold. Could pull back a bit, but looks poised to challenge january's high.
Gold indices zoomed up the charts with the xau and gdxj closing above their 50 and 200dma. The greenback took another dive, closing near its low. And the dow looks poised to at least reach its 50dma (25132) by week's end.
Bottom-line:
I think smart money knows that sprott is pretty much in control of alexandria now. With this as a given, it's my opinion we should see some dramatic up moves in the sp. Think of it this way: you either get in now when dumb money has doubts and sells, or you wait till everything is clearly spelt out and you pay a very hefty premium. The choice is yours.
So what happens tomorrow? Alxdf traders will probably start session off with a fairly wide best bid/ask spread. Never say never but I think usd .07 will hold. The low bids and #s will try to convince you otherwise, but no worries. On the other side of the equation, except for the best ask, you'll probably wonder where all the sellers went because they'll be far and few between. In this environment, sp will have no choice but to steadily zig-zag rise and close higher. The next resistance point is today's high.
Over on azx, sp will most likely trade between cdn .09 and .095 till mid morning at least, as traders try to squeeze any low hanging fruit. It may even stay in this half-cent range for the day even as the alxdf price moves higher. Why do I say that? Well, look at the exchange equivalent for alxdf, it's about 3/4 cent lower than azx's closing price. So azx's sp may have to wait a bit until the alxdf price moves higher.
Now I could be totally wrong about tomorrow if money suddenly moves in a big way as FOMO (fear of missing out) takes over the investor psyche. If this were to happen, we could get a vertical move up. You just never know with a company where sprott is now in effective control.
So we'll see what happens. As always, stand your ground, folks. Jmvho.
goldopp