Worthy of it's own thread I believe. I want to highlight / invesigate the potential manipulation going on with many of our Juniors, particuarly BMN.
Rtenn - what's the word on Canaccord? Is this the reason they have such a bad reputation on the TSX and have they been guilty of this sort of behaviour in the past?
Any sophisticated ex-traders want to shed any light on the actions below?
_____________________
(taken from recent thread):
I'm really fascinated by this - may be I'm off the wall but I think this is a perfect example of what is happening with most of the Juniors at the moment (and seems to work in an illiquid market).
Let's trace the last 6 trades in BMN on the TSX:
Time Price Shares $ Change Buyer Seller
15:52 1.750 1,400 -0.250 E*TRADE Sec. Canaccord
15:51 1.750 1,000 -0.250 GMP Securities Canaccord
15:50 1.800 7,500 -0.200 E*TRADE Sec. Canaccord
15:48 1.840 100 -0.160 BMO Nesbitt Canaccord
14:41 1.840 100 -0.160 BMO Nesbitt GMP Securities
14:06 1.840 100 -0.160 GMP Securities Anonymous
Step 1 - Anonymous sells 100 shares bought by GMP Sec;
Step 2 - GMP Sec then sells those 100 shares to Nesbitt;
Step 3 - Canaccord comes in and says no I want to run the show and buys those 100 shares off Nesbitt. All trader signals in my book.
Step 4-6 - Canaccord drives the shares down hard in the last 12 minutes, presumably to put some panick into the market / get some margin selling ie. people must be worried if the market drops 12% on a rising market hoping to accumulate shares tomorrow from retail investors who want out.
I think this is pure and simple manipulation but I credit the morse code behind it.
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Last
$3.28 |
Change
-0.020(0.61%) |
Mkt cap ! $589.4M |
Open | High | Low | Value | Volume |
$3.40 | $3.41 | $3.26 | $1.338M | 403.7K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
12 | 5385 | $3.27 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.28 | 3264 | 10 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
11 | 5309 | 3.270 |
10 | 5784 | 3.260 |
11 | 21301 | 3.250 |
7 | 7571 | 3.240 |
6 | 22719 | 3.230 |
Price($) | Vol. | No. |
---|---|---|
3.280 | 2746 | 7 |
3.290 | 8997 | 13 |
3.300 | 4875 | 6 |
3.310 | 4205 | 6 |
3.320 | 8016 | 6 |
Last trade - 15.25pm 07/10/2024 (20 minute delay) ? |
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