ECU: "Jitney, do you ever make money?"

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Silverbull50

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ECU: "Jitney, do you ever make money?"

posted on May 18, 2011 07:48AM

Once again, let's examine the composite house trades on 5/17:

House Positions for C:ECU from 20110517 to 20110518

House	Bought	$Val	Ave	Sold	$Val	Ave	Net	$Net
12 Wellington	193,500	139,240	0.72	97,000	67,900	0.70	96,500	-71,340
1 Anonymous	81,500	57,430	0.705	40,000	28,065	0.702	41,500	-29,365
7 TD Sec	81,950	55,606	0.679	43,050	30,495	0.708	38,900	-25,111
9 BMO Nesbitt	21,167	14,141	0.668	8,000	5,490	0.686	13,167	-8,651
33 Canaccord	10,000	7,200	0.72	0		10,000	-7,200
75 MGI	7,500	4,950	0.66	0		7,500	-4,950
6 Union	7,200	4,896	0.68	0		7,200	-4,896
14 ITG	4,300	2,871	0.668	1,280	913	0.713	3,020	-1,958
52 NCP	3,000	2,070	0.69	3,000	2,010	0.67	0	-60
58 Qtrade	0		175	127	0.726	-175	127
99 Jitney	70,000	49,505	0.707	73,500	50,260	0.684	-3,500	755
19 Desjardins	12,546	8,747	0.697	16,067	11,195	0.697	-3,521	2,448
57 Interactive	800	536	0.67	6,691	4,416	0.66	-5,891	3,880
65 Goldman	0		6,000	3,960	0.66	-6,000	3,960
124 Questrade	5,700	3,778	0.663	12,625	8,893	0.704	-6,925	5,115
79 CIBC	27,000	18,560	0.687	39,425	27,084	0.687	-12,425	8,524
15 UBS	11,620	7,901	0.68	32,500	22,970	0.707	-20,880	15,069
85 Scotia	56,350	38,213	0.678	134,000	98,870	0.738	-77,650	60,657
2 RBC	50,280	35,361	0.703	131,100	88,357	0.674	-80,820	52,996
TOTAL	644,413	451,005	0.70	644,413	451,005	0.70	0	0

Whomever trades through Jitney(99), the most aggressive suppressor of ECU this week (net sales of -167,000 for 2 days), lost 2.3 cents/sh or $1,610 on a 70M sh purchase yesterday.

Another recent "thorn," RBC(2) lost 2.9 cents/share and still needs to cover a net 80,820 shares at elevated prices.

"Infamous" CIBC(79) basically traded "flat" pricewise @ C$.687/sh, but was net short 12,425 shares yesterday and will need to cover at elevated prices--another likely loss.

Anon(1) was nearly flat pricewise, but is likely to profit from the net +41,500 excessive purchase 5/17. However, Anon is net short 115,000 shares for the two days this week at an avg. price of .702, so this will be another "profit-less" week for this entity as well.

In summary, over the short term, whomever is desperately trying to cap/suppress ECU continues to lose money by selling low--buying high in a desperate attempt to break the stock down. However, time is on the side of ECU shareholders with much to look forward to in 2011 in terms of exploration and enhanced production.