Stalemate, with positive sentiment
in response to
by
posted on
Sep 08, 2008 06:43AM
Creating shareholder wealth by advancing gold projects through the exploration and mine development cycle.
Someone at RBC appears to be trying to sell some shares, and to accomplish that has put in an iceberg bid of 20,000 at 1.48 so as to backstop the bids. The RBC party sold off 5,000 earlier on.
On the other side of the aisle, nobody else wants to sell KXL. The first 10 asks take you up to 1.70.
Market sentiment is holding up. I'm using Royal Bank (SP of the bank itself, unrelated to the seller noted above), and after the pop up and a brief selloff, the action has been slow and steady upwards. From 48.44 close on Friday, it popped to 50.50, backed off to 49.35 and then a steady rise to now at 49.80.
So it seems that markets are in a mood to be in a better mood.
Only 100 shares traded in the last 1/2 hour - pretty well a stalemate. Very little cash brought to the market, but on the other hand, nearly nobody wants to sell. A tug of war.
I had my doubts, but from where I'm sitting, it seems that the sunnier general market mood may well spill over into KXL and the juniors today.