Discovery Silver Corp T.DSV

Any thoughts?

[flash338]

Some unusual trading going into close. Don't see any news. Silver's quiet. Just traders bulldozing the ask stack? Anyone catch a NL writer up, article, video?

[IgnacioCashmere]

30 million dollars changed hands in a manner of minutes, most on the Canadian exchange. That's not traders but investors. You can't buy 20 million shares if there aren't 20 million in the ask, so it had to be orchestrated by consenting parties. Good news that someone or a group wanted in in such a big way.

[flash338]

That's certainly a good possibility, but what changed in a matter of minutes. I would have thought an investor would accumulate slower. I wouldn't rule out momentum traders just yet. Unusual volume can draw them in like a dinner bell ringing.

[IgnacioCashmere]

How long does it take to accumulate 20 million shares when the combined total volume Canada/USA is just over a million shares? And doing so without distorting the share price? At least 2 months. If you believe spot silver is going up, this window of $1.50-1.80 could close for good soon. The price was right for someone here. I was watching live too & was surprised that the volume in play did

[flash338]

Yep, I doubt it was just one person too. On the other side of things, sell orders where coming in hot and heavy. I have to admit, I did sell a little (2.29) when the sellers where dumping faster than the bids where coming in. Now its just a mater of what price i buy them back at.

[flash338]

This might sound a bit counter intuitive, but i hope it was just traders getting caught up in a MOMO feedback loop. After months of watching great NR'S from many companies getting sold off, it could mean interest is coming back.

[flash338]

One other thought... was there a large off exchange trade that got registered today and some traders saw the news somewhere? It could explain a few things, such as the wick into the 2.40's when I never saw it on level 2. Also, 20m shares seems incredibly high even for the activity. Could this have been an off exchange trade in the 2.40's and traders bidding up close to that price?

[flash338]

Pulled up the trade history of the last 50 trades. Couldn't go further back I guess... Over half a million shares traded in those last 50, all at 2.38, all bought through Merrill Lynch, all at 4:10. Far more than I was seeing through my brokerage account.

[daveyboy]

half a million is one thing, 20 million is another. still no news. Not sure what to make of this.

[flash338]

Yep, only half a mil, but... that was in one minute after close. There was a lot more going on than what I was seeing on level 2. Also, that half a mil was probably one trader with a Merrill account. I was hoping to dig through the trades to see if I could find something like a 10m share transaction. That would have all but confirmed an off exchange deal. I've seen that happen once. It showed

[flash338]

VWAP of 2.35561. Checked out a one minute chart of the day. I can see why I missed the move to 2.43. It happened first in one 1-minute candle. Then it dropped back down into heavy volume. With a volume weighted average that was barely touched on the chart, I'm going to go out on a limb and say a good chunk of today's volume happened within that 1-minute candle at 2.43 possibly it one trade

[flash338]

Continuing out on a limb.... algo's kicked in on the volume and ran price back up to VWAP.

[peasoupfog]

This post has been removed in accordance with Community Policy

[flash338]

Emailed them yesterday, but haven't heard back. Then again it was after 4 on a Friday. Shot them a quick email for a comment. From what I'm seeing, there was a trade large enough to distort the average to over 2.35. The stock was only at 2.43 for a fraction of a minute. I'd say there is a good chance management would be aware of a trade that size. I think a lot the trading was