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Gold/Mining/Energy : Winspear Diaminds (Bulls Board) -- Ignore unavailable to you. Want to Upgrade?

To: wayne cath who wrote (360)	2/9/1999 12:57:00 AM
From: The Fix	Respond to of 1172

Hello Wayne, Sorry it took so Long to respond. But here it goes. A jitney trade is meant to Accumulate or Fan out (Dispose) of Stock without the market recognizing it. In the case of Greenline (TD) which is the largest retail institution in Canada, it all comes down to market perception. If you have over 45% of the small guys business and you see "your" brokerage house on the sell side day in and day out, chances are that you'll think about getting out as well. The Small investor is always last in and last out. By the time he's out, it's already too late when he factors in his spread to Buy/sell and buy back in. The small guy getting out with TD is helping them drive the price down. Being the largest retail house, TD can aford to selloff a stock like WSP down. WSP has a widely distributed float, which alot of it is on the TD books. TD simply replaces it at lower levels thru Jitney activity or like in the recent last few days having been on the Buy side of the ledger. It also helps that the float of WSP is very liquid in order for TD to do this feat. Hope this shed some light on the matter. The Fix is not a good teacher, I've often said that I can't explain things well. If something doesn't make sense, Ask me thru PM and I'll try to explain it in more detail. fIXER