To support the stock you need to have a large inventory of shares. They and maybe others are selling 100k shrs a day and buying 80k shrs today, 120k shrs tomoroow and so on and we go no where, but they usually get lucky and end up with a surplus. The longer it happens, the more they end up with. They have had over 6 months to do their thing and a good job they are doing. How many shares have they scared out of weak hands over that time, maybe millions. ok if not then 100ks plus. shares.
I remember when CIBC would hit the bid with 100 shares at the close to put us in the red, even for a penny. Like today we had about 90k shrs on the bid and the the ask grew to 35k shares and their we sat for most of the aft. One would of thought that the bids would win out and clean out that offering in a jiffy with such stength on the bids, but the bids wouldnt move up, they were content to hold the line here. When I see these large bids, i believe they are having less control and hope this continues.
Well maybe i am reading too much into the trading, unfortunately i watch most of the trades and their has been patterns set including the HFT. Look what happened to Knight Capital Group, Inc.. Well the TMX is like the wild west and I dont trust any of those brokers /traders. The pennies add up at the end of the day.
R