I've observed several times in the past years there is a large cross just before a company puts out a buy recommendation (as in the recommending company gets the cheap stock crossed in some non affiliated account). Then there is a flurry of volume following as the recommending company sells to it's client base, the stock bumps up, and then volume eventually dries up, stock floats down the recommending firm sells it's stock builds a nice little short and covers when the frenzy dies down. I unfortunately know from personal experience as a broker in the 80's that this is how Canadian companies specifically have incented firms to recommend their stock (pump and dump), as I'm sorry to admit I participated in this. I'm not accusing this firm of this, I know nothing about them, but I have watched this happen and this looks to me like that sort of action. I certainly hope I'm wrong, as I as much as anyone here am looking for some consistent volume to get us out of the clutches of the market manipulators. I'd be interested in hearing from some of you who have L2 info if you have seen a drop in the ask side volume over the past several days, cause if there was collusion with other firms, the asks would fade and it would be easier to hype new people with the stock moving up immediately following a buy rec.
C