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12/30/08

Dynasty Metals (DMM.to) and the games people play


Here's the action in DMM.to right now. Interesting stuff that shows how "the houses" (aka the Canadian brokerages) will try to scam weak hands out of their positions.

11:19:20 T 3.05 -0.30 1,000 19 Desjardins 19 Desjardins K
11:18:56 T 3.00 -0.35 200 2 RBC 7 TD Sec K
11:18:56 T 3.00 -0.35 100 19 Desjardins 7 TD Sec K
11:09:15 T 3.01 -0.34 100 1 Anonymous 1 Anonymous K
11:08:59 T 3.01 -0.34 300 1 Anonymous 1 Anonymous K
11:08:59 T 3.01 -0.34 100 19 Desjardins 1 Anonymous K
11:07:21 T 3.10 -0.25 50 79 CIBC 19 Desjardins E
11:05:16 T 3.10 -0.25 200 79 CIBC 1 Anonymous K
11:05:16 T 3.10 -0.25 100 79 CIBC 19 Desjardins K
11:00:51 T 3.10 -0.25 100 7 TD Sec 1 Anonymous K
11:00:51 T 3.10 -0.25 100 7 TD Sec 19 Desjardins K
11:00:34 T 2.85 -0.50 1,000 19 Desjardins 85 Scotia K
10:54:25 T 2.78 -0.57 200 1 Anonymous 1 Anonymous K
10:54:25 T 2.98 -0.37 1,500 1 Anonymous 1 Anonymous K
10:54:25 T 3.00 -0.35 1,000 1 Anonymous 1 Anonymous K
10:54:25 T 3.25 -0.10 200 2 RBC 19 Desjardins K
10:54:25 T 3.25 -0.10 2,000 9 BMO Nesbitt 19 Desjardins K
10:54:25 T 3.25 -0.10 300 9 BMO Nesbitt 19 Desjardins K
10:54:22 T 3.26 -0.09 1,000 7 TD Sec 19 Desjardins K
10:51:20 T 3.30 -0.05 1,000 19 Desjardins 15 UBS K
10:51:20 T 3.30 -0.05 500 7 TD Sec 15 UBS K
10:42:06 T 3.37 +0.02 1,000 88 E-TRADE 79 CIBC K

Right now we have the bid at $3.00 and the ask at $3.09. What does all this mean? Well, first check out the three trades that plunged DMM.to down from $3.25 to $2.78 (i've highlighted them in red). A total of 2,700 shares was enough to wipe the stock down 47c. You'll also note that the previous four trades when Desjardins sold into the bid came with exactly the same time stamp as the three "anonymous" trades that dumped the stock. If you think this is pure coincidence I have a nice bridge you might be interested in purchasing. Since then the stock got bought in, but it's still 10% cheaper than yesterday's prices and there are people getting nervous and wanting to bail at $3.05 thanks to this move.

I love it when the big boys start wanting in! Sure they'll use tricks and scamettes to shake shares out from the weaker hands, the kind of investor who says "well...it's moved from $1.30 to $3, I still got myself a win" and hands over their shares in true patsy style. But I love it when this stuff starts happening because a) I can top at lower prices if I feel the need and b) it means they want the stock in their portfolios. That can only be good for the wiser and steadier hands among us.

So let da boyz play their little games. This time is Desjardins trying to fake the field, but next time it might be another house. They haven't managed to shake much fruit out (just 3,350 shares traded since the dump move) so expect them to put DMM.to on the rollercoaster a few more times....get people nervy and that. Me? I'm holding. Very very holding.