Re: WHAT WERE WE SEEING IN LATE TRADING ACTION?
in response to
by
posted on
Sep 25, 2008 08:29PM
Creating shareholder wealth by advancing gold projects through the exploration and mine development cycle.
OK first of all why would you give 2 sheets what accusations are made about NB etc.? Secondly he simply said his friend provided the last 10 trades as proof NB was doing a lot of buying and ventured a "guess" as to what was going on. No accusations or implications of illegal activity.
Besides we all KNOW National Bank has a vested interest in KXL because they were a major underwriter in the $50 million financing. So since the price has dropped 300-400% since they purchased it isn't a stretch to say they would take their significant position and manipulate the price back into profit town. If you're wondering if I'm accusing, YES I AM! OK maybe not National Bank directly in this specific case but the big fish that come in and eat all the little fish (joe retail investor) for breakfast constantly. This scenario just happens to be a good illustration of when these kind of dealings "could" happen. Whether it is or not I obviously don't know for sure.
This kind of thing happens all the time, its practically what every market is based on and how the price takes major swings in one direction or another most of the time. Whether "wash trading" is going on I also don't know but there are so many ways around this regardless. Having accounts under different brokers or trading under "anonymous" or what have you. It is very difficult to prove and that is why it still occurs. Do you REALLY believe the markets are based on fair, 100% legal practices and everyone is on board all the time? LMAO!! If you do I've got 700 billion in mortgages to sell you ;)
Otherwise I think everyone needs to settle down a little tonight and have a beer and enjoy the KXL wave. October is coming and that should mean big things for us.
Cheers,
Gamblor.