Hey folks,
Back from vacation today and saw something interesting in the house trading patterns today. Refco Futures was on the buy side for 4,000 shares. This may seem insignificant except for the nature of Refco. Refco is a house whose sole activities in the market involve accumulating or divesting very large posititions for funds, brokerage accounts or institutional investors. They don't day trade and they don't buy or sell small.
For the last 2 months they have been selling Eiger every day to the tune of a 2,000 to 15,000 shares per day. This is consistent with their usual trading patterns of averaging in or out of positions over time (Tom, I'm sure you're familiar with their DMX buy over April and May).
Why their sudden switch today from the sell side to the buy side? I don't know, but can only speculate -- a new client who wants to accumulate a position? new information that they have become privy to? -- who knows??
Should be interesting to see if the buying continues. I have seen them act on several stocks now and usually their buying patterns predict coming price trends.
Joe
Brokerages Buy Buy Price ($) Sell Sell Price ($) Net Vol Net Value ($)
Vol Value ($) Avg Min Max Vol Value ($) Avg Min Max
(002) RBC Dominion Securities Inc. 2,199 7,148.05 3.25 3.20 3.30 9,250 29,368.50 3.17 3.15 3.21 -7,051 -22,220.45
(007) TD Securities Inc. 22,000 71,559.00 3.25 3.15 3.35 30,760 99,036.00 3.22 3.20 3.35 -8,760 -27,477.00
(009) Nesbitt Burns Inc. 21,000 67,692.00 3.22 3.15 3.30 8,500 27,450.00 3.23 3.20 3.29 12,500 40,242.00
(011) Yorkton Securities Inc. 500 1,640.00 3.28 3.28 3.28 500 1,640.00
(019) Desjardins Securities Inc. 3,000 9,639.00 3.21 3.21 3.24 770 2,464.00 3.20 3.20 3.20 2,230 7,175.00
(022) Thomson Kernaghan & Co. Ltd. 2,300 7,590.00 3.30 3.30 3.30 -2,300 -7,590.00
(023) Charles Schwab Canada Co. 500 1,640.00 3.28 3.28 3.28 500 1,640.00
(033) Canaccord Capital Corp. 6,000 19,500.00 3.25 3.25 3.25 6,000 19,500.00
(036) W.D. Latimer Co. Limited 13,280 42,985.50 3.24 3.18 3.35 8,599 28,001.05 3.26 3.20 3.30 4,681 14,984.45
(059) Pacific International Securities Inc. 2,400 7,760.00 3.23 3.23 3.25 2,400 7,760.00
(060) Refco Futures (Canada) Ltd. 4,000 13,040.00 3.26 3.26 3.26 4,000 13,040.00
(079) CIBC Wood Gundy Securities Inc. 100 325.00 3.25 3.25 3.25 1,900 6,099.00 3.21 3.20 3.25 -1,800 -5,774.00
(080) National Bank Financial 2,000 6,400.00 3.20 3.20 3.20 2,000 6,600.00 3.30 3.30 3.30 0 -200.00
(083) Research Capital Corporation 5,000 16,298.00 3.26 3.25 3.28 -5,000 -16,298.00
(085) ScotiaMcLeod Inc. 5,250 16,825.00 3.20 3.20 3.30 16,700 54,776.00 3.28 3.20 3.35 -11,450 -37,951.00
(088) VERSUS Brokerage Services Inc. 1,000 3,300.00 3.30 3.30 3.30 500 1,600.00 3.20 3.20 3.20 500 1,700.00
(089) Goepel McDermid 500 1,675.00 3.35 3.35 3.35 -500 -1,675.00
(098) NBC Clearing Services 3,550 11,504.00 3.24 3.20 3.28 3,550 11,504.00 |
