Laurion Mineral Exploration Inc. V.LME

Level 2

[Jdsocials]

DAM$, once the market closes would you kindly post a screen cap / your brief analysis of how many different people sold vs bought? To me, people with money are just waiting for a nice opening. Hence it touched .80 and shot up. My guess is more was bought than sold today, despite the feeling of a mass sell off. Curious to know how many people actually sold, and how many actually bought.

[DAM$]

So far, the offender of the day was a dump of 69000 at market by someone at questrade dropping it from .81-.71 Then someone from there bought 27000 at market to raise it from .81-.83 CIBC has been the big buyer of 62000 next to Annonymous buying 91000 and selling 74000

[Jdsocials]

Thank you. If only the market maker didn't hold the price at 1$.... we wouldn't be here right now.  But seeing that it is 1 or 2 people makes me happy. Bigger buyers are waiting patiently for the paper hands to put their sell orders in at these low prices, and then eat them up. Again, the fact that they held off on a bigger than 2million PP is telling enough!

[DAM$]

So, you can try to draw your own conclusions from the House Summary of the day 415,000 shares trade Anonymous Bought 195000 & sold 194700 in 52 sells for a third of the sells. Net Nothing but moved prices??  Leede Jones was basically even although the made 21 sells 12% of days sells for net basically nothing CIBC  Bought 81500 Sold 32500 Net 50000 added Questrade & RBC Net

[CharlieBaba13]

So why the drop then? 

[Sheerms]

Less bids than asks in the order book if I understand correctly

[Libsoui]

It's a long term play now. There's no immediate buyer after the deal fell through 

[Lambosntendies]

I can't agree with you more. Glad I sold out in the .90s... this stock is riding on hopium. I love the idea of 10-20x returns but honestly this stock sitting at $1 for so long... a buyout was priced in until more positive results actually were published. To everyone reading and dissecting every word of every pr your being driven by hope and speculation. The reality of this stock is everything

[Cnb567]

The sellers and price droppers sell based on speculation where the people holding long on LME base their decisions on facts and actual data. Go back to wallstreetbets and dump your money on GME. You're in the wrong place here. 

[ilovexau]

@lambo, hopium aside you are welcome to your opinion. I am guessing you are shorting the stock and putting out your opinion to further you shorting goal. Good luck with that. The fact that you referred to lme.ff the US ticker and its price differential is a sign you have no idea what you are talking about. Both tickers are the exact same stock, just one is listed on the Canadian exchange the other

[Randz2000]

1000% Dude doesn't know what he's talking about - that $LMEFF statement was ridiculous lol

[Lambosntendies]

Maybe you should actually look at the numbers for Lme.v vs lme.ff obviously lme.ff trades lower as it's in usd but that's not what I was talking about I was talking about the value in the sp itself. Right now lme.ff is 0.50 usd per share and lme.v Is 0.55cad per share. So if people buy lme.ff at this exact moment they're overpaying vs Lme.v the opposite was true two days ago. The stock

[ilovexau]

really @lambo, it's called Arbitrage. It's nothing new trader's have leveraged positions on multiple exchanges to eek out a profit for decdes. Even on large caps like Apple. That said a minor stock like LME with low order flow, low float, and low relative interest you are going to see temporary arbitrage gaps that are greater than the norm in a time of frenetic selling like we saw this

[Lambosntendies]

I never said it was a sign of the apocalypse o said it was an opportunity. Right now lmeff 0.504 and lmev is 0.78 even factoring in exchange that's a big gap 

[SuperJ7]

Good luck with that opportunity.  

[matlas]

Thanks ilovexau-great post Do you think people could be shorting LME? I always thought that to short a stock, need to borrow from a broker. To borrow from a broker, they have to have people that have bought on margin. But, I did not think that a stock like LME could be bought on margin. So, how could there be shorts?? Educate me

[ilovexau]

I don't know why you are associating margin and short selling. Margin is just borrowing money, whether you choose to long or short a stock. And yes you can short LME, provided your acct and broker allows it, and that you have sufficient capital in your acct to cover the short. And to further answer those skeptic's YES there are currently short positions on LME, and no I am not one of them.

[matlas]

I always thought that the way that the broker got the shares that were sold short was by using shares that others had pledged in their margin account as security. I guess I was wrong! Thanks for correcting me.

[ilovexau]

no problem. FYI that is a bit of an oversimplification. You can short a share multiple times. This is why GME (GameStop) was at one point short 140% of it's available shares. One broker shorted it to another broker who shorted it to another, and so on and so on.

[Primpage]

You might be correct but you might not be. With all do respect, unless you're an insider(which you couldn't say anything in that case), you're speculating with the rest of us, you just chose the negative side. Which is completely fine. But a lot in here are "hopium" that something will happen. I'm not disagreeing with you but also not agreeing. Just trying to look at all