malx1 wrote: BarstoolSage wrote: was looking at pre opening activity and noted matched buys and sells in the very low 8ths, that then increased....
I expect it is like the CSE where buyers put in fake bids\sells to influence the opening price and instil jitters of a share drop...in this case down to 8.05 then slowly rising in lockstep to where delayed prices still show 500 bid\ask at SH 8.21.
Could be wrong, but it is odd to see 500 for sale AND bid at the same price....rising in lockstep....and it is a classic move in trying to shake loose some shares
Opened at 8.47 for 571 shares....
Gents, let me chime in on the case of the vanishing board lots and curious trading tactics at play...
What I and many have been fascinated by is the periods of time when sellers, and sometimes buyers, of Gamehost act as if they are limitless. Let me assure you, they are not.
Behind each of these buys and sells is a human. Trading algorithms are not likely and usually not permitted to dabble on stocks like GH due to the illiquid nature of its market and very low daily volumes. I'd bet that if you bought a beer for the person conducting the NCIB you'd get an earful about their frustrations in buying just 1,100 shares daily under TSX buyback rules.
With that said, the seemingly mysterious transactions in question are originating not from the TSX itself but from sub-exchanges operating in Canada. It's not unusual for public companies to have 10-30% of their daily volumes stem from exchanges outside of the TSX.
As an example:
Boardwalk REIT has traded 128k shares today but only 38k of those shares actually traded on the TSX. Those of you using real-time quotes and level-2 market depth in your investment platforms are being fed data from the TSX and not the alternate trading systems.
So when Kasking sees there's only 1k shares bid at $8.88, he is watching the TSX quote. If one of us had access to a trade desk, we would see that there could be many more orders from sub exchanges that the TSX does not show us.
Have a gander at BEI.un's trading activity today and you'll see their TSX trades listed at the top but another 9 sub exchanges where shares of BEI.un have also traded.
The funny business often takes place on the sub exchanges.
NEO ATS - U
Alpha - A
Omega - O
Pure - P
Chi-X - X
CX2 - H
CXD - D
TriAct - M
Instinet - I
https://www.stockwatch.com/Quote/Detail?C:BEI.UN https://www.stockwatch.com/Quote/Detail?C:BEI.UN “We do not see things as THEY are. We see things as WE are.”