Emo from a Day Trader's Perspective From ceo.ca: @DavePi Had an interesting discussion with a friend yesterday who is an active--and successful--day trader. I mentioned EMO, and he looked it up on whatever he uses for his trading platform. He noted a couple of things:
1) for the type of trading he does, it's not currently a candidate, but could be soon, as it's consolidating into some formation that suggests a big move coming.
2) his platform has zero data for it before last June, as it failed to check off some of the parameters necessary to be a viable trading equity; I gather it had to do with some combo of price and volume.
The 2nd issue is for me, the more interesting one. It suggests to me that with zero coverage *at all* on many platforms until recently, we're still at the very bottom of a steep upward curve, as awareness (which equals new opportunity to those on these and other platforms) grows of EMO and what it has going. He and I take wildly different approaches to investing, but at the end of the day, all folks buying emo enhance its value. And other platforms that identify potential long-term investments for clients are likely also just waking up to the EMO story.
Meanwhile, whales like Sprott, and even more, Sprott wannabees, are trying to scoop up shares before the price spikes, and without spiking it much themselves. A tough task for all parties, as so many here are holding tight, and have a significant share of the float, well, effectively out of the float. So growing interest and ever-shrinking float.
What's not to like? Buying more on Monday. Only a couple hundred shares, but each one I buy will further shrink the effective float...