I agree 350K of yesterday's 890K was a Canaccord-Canaccord cross ad the remainder was relatively low volume trades but IMO yesterday's action was more than just this... I watched KXL trades very closely yesterday afternoon... literally trade by trade... I saw a very low bid at 48 cents continuously be replenished as they were hit by mostly Anonymous on the sell side... would seem to sound like an iceberg bid at 48 cents right?.... yes but what was strange was that these replenished bids were coming from a a variety of different houses and not just 1 house as typically is the case with a typical iceberg bid... that's what was different yesterday but then again I have seen similar action with KXL recently as well... what does it all mean?... impossible to say for sure but it could simply be legit selling by Anon (maybe recent FT PP at 65 cents) and simultaneous bids from a variety sources and houses?... it could be an accumulation strategy by someone 'bigger' and sophisticated who is able to sell under Anon to give the illusion of liquidation while simultaneously placing bids through multiple houses and scooping up any loose shares?... or it could be nothing... no idea... all I know it was a different and quite bizarre trading pattern IMO...

All the best for the New Year to all.

red911

Re: Churning at 48 cents... - low may not mean much