GREY:ALXDF - Post by User
Post by
goldopportunityon Aug 03, 2018 6:35pm
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Post# 28413204
Fwiw.......
Fwiw.......Alxdf closed at usd .04 = cdn .0519 (boc 1.2983 close)
Alxdf down 9%. Outside high/low, inside close. Uptick in volume -- highest in a week, but only a bit above the daily average. Volatile session with sp hitting a 2-month high at the open (usd .049 = cdn .0636), then falling below the 50dma before recovering to the usd .04 print. I can't see who's on either side of the otc trades but I suspect there is a scarcity of legit sellers.
Azx unchanged. Outside low, inside high/close. Slightly higher volume than yesterday but today we had the second lowest volume in more than 3 weeks. Interesting to note that all the cdn .05 trades were td crosses (no legit trades, folks).
Today was a test of your resolve, and you all passed beautifully. No one took the lows-of-the-day bait, so buyers had to up the ante pushing both stox to an inside print.
Bottom-line:
So what happens next week? For starters, the tsx-v is closed monday but the otc is open. With the cdn exchanges closed. I'm thinking monday's session could see alxdf trade anywhere within today's perimeter. I know that's a pretty wide spread, but I think the bias will be more to the upside as there appears to be no legit sellers. As for the rest of week, I'm thinking alxdf looks poised to test today's usd .049 breakout high. And azx I think will trade and close above cdn .06. But we'll see as timing can be most difficult.
So this week we found out from that JK interview that agnico sided with EO. That proved to be a losing bet. Methinks agnico, although it doesn't need alexandria's properties at the present, is loathe to give it up to another entity, especially since agnico came "this" close to getting us. So assuming this speculation is correct, what would you do? And word has it that quite a few entities have espressed an interest in buying us out. I believe mikenooks is right when he said in his post this afternoon that "a sale is back on the table". And the bid/ask market depth ratio leads me to surmise that the market feels the same way.
So we'll see what happens. Wishing my fellow canadians a good long weekend. I'll have a report on monday for alxdf. Always stand your ground in the markets and in life, folks. Jmvho.
goldopp