i found out from a friend that the last 10 trades for KXL saw national bank of canada doing most of the buying and also all the crosses.

his guess, which he admits is a guess:

in general: nb is managing the stock price... but downward so as to keep accumulating without driving it too high too quickly.

re crosses: they are using a computer program that picks up shares in any amount as they come available but when not, it crosses shares back to self by downticks. by selling shares to themselves, they keep the price in their buying range as long as possible. in this case that would mean under 2.00.

if true, this would be extremely bullish, because it would mean NB, which is a lead player and wrote the first formal buy recs, now wants all the shares they can get. it fits how the stock acted, as well.

ONE DAY CHART

http://finance.yahoo.com/q/bc?s=KXL....

LATE TRADE SUMMARY

Time Ex Price Change Volume Buyer Seller Markers
15:58:54 V 1.91 +0.11 600 5 Penson 7 TD Sec K

15:58:16 V 1.90 +0.10 4,000 80 National Bank 80 National Bank K

15:58:11 V 1.90 +0.10 2,000 80 National Bank 80 National Bank K

15:58:01 V 1.90 +0.10 500 80 National Bank 7 TD Sec K

15:58:01 V 1.90 +0.10 2,000 80 National Bank 80 National Bank K

15:58:01 V 1.88 +0.08 2,200 80 National Bank 81 HSBC K

15:57:56 V 1.88 +0.08 2,000 88 E-TRADE 81 HSBC K

15:57:56 V 1.89 +0.09 800 2 RBC 81 HSBC K

15:57:49 V 1.90 +0.10 2,000 80 National Bank 80 National Bank K

15:57:49 V 1.90 +0.10 500 80 National Bank 79 CIBC K