posted on
May 02, 2008 03:44AM
Hi - I agree with everything you say about the stock (all the good stuff !). As to the action yesterday, I need to ask if you own FNX - I do, and hopefully what appears to be either a massive manipulation or attempted tax fraud will serve as a stimulus for the TSX to monitor some trading activity more closely. Ironically, the Income Tax Act does not preclude from fair market value transactions conducted through the Exchange off-hours where the buyer and seller know each other. The point is, that in relatively illiquid markets/exchanges, those kinds of volumes in periods of low activity are rarely blind and thus liquidity cannot be presumed to be the main motivation - the volumes, prices and buyers/sellers are pre-arranged, and can give the unwary retail investor a seriously distorted impression of worth. Those volumes can also be used to protect managements / advisors doing private placements at unreasonably depressed prices. I am not suggesting the latter is the case with VMS , but that certainly is the wild west of the TSX. Can you help me with "deaccessioned" ,I am just not familiar with the term. Thanks.