Well it looks like it's time for this thread to wake up! The way DEN traded today was certainly very interesting.
I've spent some time here looking into the trading that's been going on in DEN. After having done this, I'm quite convinced that there is something good in the works and that this run may just be starting. Here's some of my thoughts.
Over the past month, by far the biggest buyer has been Nesbitt, buying over 3,700,000 shares. A good portion of these shares have been bought in the .10-.11 cent range which is fine. This has been where DEN has been trading for quite some time.....and then today:
You would think that after climbing up to the .16 range on good volume, that Nesbitt might be selling. Not at all! In fact it is the complete opposite. Today was their BIGGEST net buying day, with them purchasing over 900,000 shares in the open market!
Now take a closer look still. Over 260,000 of these shares were purchased at .15 cents and above. What I take as a very good sign is that they were even buying quite nicely at/near the high of the day in the .17/.175 cent range.
The other very strong signal has come from HSBC (house 81). They have been almost non existant in DEN, until yesterday. For the past month they were only active in DEN on 3 occasions, with their "biggest" trading day only being for 15,000 shares...hardly worth mentioning at all. Yesterday, they bought almost 70,000 shares which was a little different than the usual. TODAY, they bought 1,189,000 shares!!! Now to my thinking, you don't just casually wake up and think "hmmmmm, I think I'll buy a million + shares of DEN today"....well....unless you "knew" something so to speak.
Imho, something is brewing at DEN. It's been a very quiet stock until now. The activity today, and the accumulation in the past month bodes very well imho.
Regards,
Kevin |
