Re: dont forget we still have news to come
posted on
Dec 14, 2010 02:29PM
"Anything is possible, Ed, but if so, that one person has a lot of different accts with a variety of brokerages."
Yes possible. I am a small investor but have 4 accounts with 3 brokers.
Regular, RRSP, locked RRSP (former pension), and a tax free RSP.
And such an individual need not have bought a whole million of shares. Example, at about 2pm today there was a bid of 122,000 shares over 8 bidders. Just one of them could have placed a bid of 50 thousand or so and that established a floor for everyone to jump over if they wanted anything.
Once someone starts buying it causes others to accomodate their actions and it starts a mini avalanche. Perhaps even rumours until it weakens from lack of support.
That is what I suspect is happening.