Just before leaving to do an errand at 8:30 AM looked at the screen and
noticed Bid/Ask balanced at 33.5 cents.Put on Level II only to see small
bids 40,39,38 cents and lower and one larger ask of 107 lots or 53.5 K
shares at 40 cents.
Different possibilities raced through my head.
a) Must be obvious mistake.
b) Someone telegraphing move to someone in the market.
c)Forced liquidation ( but that did NOT make sense, broker coud just
sell into bids.
Upon returning back right at the open at 40 cents with some 53 thousand
shares traded and a decent number bid at 40 cents and smaller number
of asks at 43.5 cents. It looked OK but NOT for long. Soon after Noront
shares dropped to 38 cents on some 40,000 + shares to be followed with
a big, nausea inducing swoon to 34cents unless TSXV corrects it later.
Our friend Cinema Show must have had Magician hat on to be able to scoop
some at 34 cents.
Again, regardless of where it closes this one is for the book(s)
GLTA,
Fossil