Larry, look a little further. The full picture on NN activity for today extends a little beyond the NYSE.
NN activity on the NYSE today was volume 1,325,000, ending up at US$18.937 (Sorry about the decimals about, eighths are a bit of an anachronism, although I used to think they were the only way to do this stuff.)
Over the Northern border, us frozen wetbacks traded 1,072,300 shares. The NYSE volume was a little higher. On average the NYSE trades about 900,000, so it was up for the day on higher than average volume. As a middle of the road stock, it did OK. The heavyweights got the most from today's snap-back.
On the Toronto Stock Exchange the volume was double the average of slightly less than 500,000. The stock ended the day at C$29.00, a DROP of 0.45. In fact the stock was down from mid-morning on, acting as a drag on the NYSE. Watching both on my watch list was difficult. One green, one red. They didn't seem like the same stock. the Canadian exchange acted as an anchor.
There was no Newbridge news restricted to Canada only. What there was, after a 200+ point drop on the TSE yesterday, was NO snap back. The TSE closed up 7.39 points. This after many other days of higher percentage drops on the TSE than the NYSE. In other words, more of the same. But worse than the NYSE.
Investing really needs information. Most quote services provide Canadian quotes. I use Yahoo, its easy. NNC.TO will get you the quote. If you hold NN just add NNC.TO to the portfolio on your server. I think SI uses K.NNC, ( K being Kanadian, eh).
What I've wasted everyone's time here for is just trying to stress that Information is critical. On some stocks the NYSE is not the whole story. |
