THE PAST 6 DAYS (A statistical perspective)
On Friday Oct 30/98 the SVB stocks came alive, either by rumor or facts, or design. What followed was a short lived period of hope and anticipation by the "pawns" in the Jr exploration and mining business, aided and abetted by brokerages and the Jr exchanges they run, notably the VSE and the ASE.
In reality, the odds in Las Vegas are more commensurate with the risk than investing in either the VSE or the ASE. (Including the misc costs, such as airfare, hotel and meals) Given that you can have a hell of a lot more fun in Las Vegas than watching a manipulated stock quote system I am amazed that there are any takers at all. I cannot answer the question (why do you do it ??) I have no idea, why do people smoke or drink, I just don't know. By the way if I did know, I would have quit all those vices (plus a few more) a long time ago.
What has bothered me for along time is the constant and repetitious manipulations which are rolled out on a frequent basis by the;
(market makers/brokerages/brokers/promoters/etc..etc..) collectively called "THEM", because trying to make money under these conditions is "US" vs "THEM". Statistically THEM will take your money 9,999 times out of 10,000. With these odds why doesn't everyone just go to Vegas. ????
Anyway the purpose of this posting was to place a few things in "Perspective" by providing some statistics from the past 6 trading days starting with Friday Oct 30/98 (when this little manipulation began)and including the "wind down" day Friday Nov 06/98.
I gathered all the trading statistics for eleven (11) VSE/ASE listed companies (I probably don't have them all but it won't change the stats much anyway), and from those stats have come up with the following numbers; (for the 6 days)
01. Total Combined shares traded (all 11 companies).. 19,500,000
02. Approx value of shares traded ................... $ 5,500,000
03. Average value of shares traded ..... ............ $ 0.28
04. Estimate of total commissions (both sides) ...... $ 200,000
NOTE *a* Intel (Nasdaq INTC) trades approx one billion dollars a DAY to place things in perspective.
A. The Most active shares traded
(Company)--(Shares traded)-(% of total)-(Cumul %)
01. Donner --(6,348,300)-(33)-(33)
02. Northern Abitibi --(5,332,135)-(27)-(60)
03. Cypress --(3,983,300)-(20)-(80)
04. Labrador --(1,016,375)-(5)-(85)
05. Mandorin --(909,500)-(5)-(90)
06. Major General --(419,000)-(2)-(92)
07. Layfield --(395,700)-(2)-(94)
08. NDT --(356,600)-(2)-(96)
09. Lattitude --(272,740)
10. Curion --(269,300)
11. Pallaum --(174,160)
NOTE *b* Donner represented 33% of trades but 49% of total value traded due to the higher Share value than the other companies (in fact the top 4 companies represented 90% of the traded value)
B. THE BIGGEST TRADERS
There are two sides to every trade so by adding up both sides of that action we can find who are the most active players. The net position doesn't give you this perspective. The following table provides a list of the "Total Trades" (buy and sell) by the most active brokers. They are not all shown only the most active.
(Company)-(Total trades)-(% of total)-(Cumul % approx)
01. Cannacord --(4,581,000)-(12)-(12)
02. Greenline --(3,403,710)-(9)-(20)
03. Yorkton --(3,010,880)-(8)-(28)
04. Levesque --(2,853,000)-(7)-(36)
05. Union --(2,739,595)-(7)-(43)
06. Georgia Pac --(2,280,000)-(6)-(48)
07. DS --(2,275,955)-(6)-(54)
08. Nesbitt --(1,865,375)-((5)-(59)
09. Haywood --(1,389,000)-(4)-(63)
10. Golden Cap--(1,154,500)-(3)-(66)
11. Midland --(1,137,000)-(3)-(69)
12. Dominick --(1,052,600)-(3)-(72)
C. TOP "NET" SELLERS
01. Dominick (- 792,600)
02. Haywood (- 606,000)
03. Yorkton (- 519,880)
04. Golden Cap (- 465,400)
05. Research Cap (- 260,500)
06. Wolverton (- 224,680)
D. TOP "NET" BUYERS
01. DS (+ 657,115)
02. Greenline (+ 636,510)
03. Nesbitt (+ 283,375)
04. Midland (+ 208,800)
05. Brink (+ 199,715)
06. Gundy (+ 158,900 )
NOTE *b* many of these brokers service the retail buyers (us)
Anyway there's a few stats to digest, perhaps some of you guys can make some observations which are not immediately apparent to us Jr market apprentices.
Regards, Terence Mitchell
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