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Message: Re: Big Sell-off Before News?
3
Oct 02, 2013 03:13PM

53 was buying today, a whole 1100 shares...but they stopped selling, did not sell anything today.

Today was a margin flush day. Started with Questrade changing requirements from 50% to 85% margin. So if you had $100k dollars, you could borrow $50k to buy more shares. After this change, you had to return $35k, if you did not have that money, they were selling your shares. That started the move to sub $3. Once we broke $3, every bank yanked their margins and everyone on margin had to sell shares. This artificial selling pressure brought our price down to way oversold territory. I expect a bounce very soon.

G.

5
Oct 03, 2013 12:49PM
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