Day trading in Canada Message Board

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Gold/Mining/Energy : Day trading in Canada

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To: The Devil Dog who wrote (673)	10/5/1998 5:36:00 PM
From: the Chief	Read Replies (1) of 4467

When one firm "sells to its self" it can mean two things. 1) The brokerage firm was selling for one of its clients and selling to another of its clients. They get two commissions and must pay the OSC fee both ways Here are some of the "crosses you refer to; T 1998-10-05 13:17:00 8.750 -.100 300000 2 DS 2 DS T 1998-10-05 12:59:06 8.800 -.050 100000 7 Green Line 7 Green Line T 1998-10-05 12:22:00 8.800 -.050 300000 7 Green Line 7 Green Line T 1998-10-05 12:11:24 8.800 -.050 250000 2 DS 2 DS T 1998-10-05 11:53:18 8.800 -.050 270000 81 Gordon 81 Gordon T 1998-10-05 11:52:12 8.800 -.050 250000 81 Gordon 81 Gordon 2) With block sales like this, it generally means the brokerage is buying down a losing position, so as to be able to claim a "capital loss". Or they are reselling the position to them selves so as to establish a "high purchase price, they will occassionally do this if the stock is going to retreat, they may even use the shares as a short! They generally move house positions between some of their brokerage/bank controlled mutual funds and back to house positions. Years ago activity like this wasa a good indicator...now its all illusion! the Chief

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