Re: Todays trades in order. So far.
in response to
by
posted on
Jan 28, 2011 06:11PM
There isn't a trader on the planet that would trade such a thinly traded stock and end up with a net position reflecting $4.00 / share
If you check into the trading activity of many of the resource based venture stock you see the same trading behavour.... SGR, DNT, NOT, VMS, RGT,RR,K,G and many others have had the same activity where they entered the market on a stock and continue to trade the same stocks every day once committed to them.
How do you think an ETF works? Thats what they do, they take a group of stocks representative of the chosen market segment and they take positions in those based on their criteria.... this portfolio of stock will then be traded as investor buy and sell that fund.... Thus every time someone buys the ETF they rebalcne that portfolio... thus all day long some shares are bought and some are sold via computer program.
Note that 99 isn't the only institution doing this.... there are many ETF with a variety of portfolios..... This fund just happens to be in the canadian resource stocks.
Conclusion: The trading of 99 is inconsequential as it will not reflect any optimism or pesimism other that that of the overall resource market.... Forget about um!
Our share price will be driven by news and confidence in the projects and will drift lower when true investors hold tight.... ETF's will trade regardless of any market... they will make their own trade.
More news please!