Well I have to admit Octagon (house 64) is getting on my nerves a bit! After digging a little bit though on them, this "on my nerves" may be a little premature. Here's what I've found out so far.
1) They ONLY have a seat on the Toronto exchange....that's it. This makes me think that they may really be U.S. based, which would be important in this case because (so I understand) U.S. tax loss selling of Canadian securities may continue up and to tomorrow..... and then be over.
2) I've gone back over the trades by 64 for the past 2 years. They did about 320,000 shares worth of buying...no selling...during March, April, and May of this year...at an average costs of $1.29 (ouch!) Tax loss sell now?? I sure would be!! With the number of shares that they've sold (all in December by the way), they have got some more from somewhere other than the ones I've found so far. Still looking for the answer to this.
3) The buying continues through Cannacord though...quite large at times too. In total, while Octagon has sold close to 400,000 shares today, Cannacord has bought close to 350,000 shares.
Well we'll know in a couple of days whether the Octagon offers were U.S. based tax loss. I have my suspicions they are and will keep digging for more information. In the mean time, I still think DMW is a bargain at these prices!
Regards,
Kevin |
