TSX:DHT.UN - Post by User
Comment by SONOFFERGUSon Sep 12, 2024 6:05pm
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Post# 36221248
RE:Who's Unloading Today?
RE:Who's Unloading Today?
Lol, probably nothing. It is a mistake to think that trades by a retail broker like RJ have meaning. Note that RJ was a buyer into the close at $1 more than it sold a bunch yesterday. Shrug. Maybe a long died and the estate said sell. Maybe a retail broker decided to rebalance a client's portfolio. Maybe an IPO buyer at CAD10 decided to print profits. Who knows?
If Instinet (who is always acting for an institutional client) is moving the market (as it did, hard, yesterday), or GS or Citadel (who very likely are trading as principal) are buying with purpose, or CIBC (who looks like market maker and NCIB dealer) is buying all day (after spending the last few weeks hitting bids), that might mean something. Might. Maybe.
As the price spends time off of the lows and in the $12s, the technical arrows will move from sell to neutral to buy. Those who didn't want to buy a busted chart in the $11s will pile in soon enough, and those who bought/held on fundamentals that readily support $15+ will be rewarded. I point out again that pros make money pushing retail around and that it costs very little to move the price into the $13s, which should bring buyers in to fill the air pocket to the pre-fraud $15s in short order. That is my (very large) bet, in any case.
Anyway, I've spent a lot of words responding to your bleat.
JMHO ofc.