Highlighted NEX Stocks For October 4th

Thirty-six NEX stocks traded on Thursday. Of these, 8 advanced, 9 declined and 19 remained unchanged. There were 156 trades. The top trader in terms of raw volume was the same as Wednesday's: Global Tree Technologies Inc. [NEX: GTT.H]. What was not the same was the number of shares traded. The daily volume of GTT.H was 1,532,000 shares, almost a million more than Wednesday's category-topper and the highest daily volume for a NEX stock in months. Global Tree not only topped the list in raw volume, but also had the greatest number of trades on Thursday. According to the TSX Venture closing summary, Global Tree was also the top trader in terms of value of shares traded for Thursday. It also was the top percentage gainer amongst NEX stocks, and placed first on the top-ten list of volume traded divided by total shares outstanding (found below,) as it did yesterday. This list of five firsts for the day basically makes GTT.H the "stock of the day." In a Stockhouse discussion board devoted to the stock, there was lots of discussion. Interestingly, the first post of the day on GTT.H discussed why the use of Bollinger bands indicated a big move. This may have been a self-fulfilling prophecy. No news releases were disseminated by Global Tree on Thursday. [Disclosure: I posted on that "BullBoard" too, under the monicker "botfed."]

Two NEX stocks traded more than ten times on Thursday, the most numerous being Global Tree. GTT.H traded almost six times the number of the second placer in this category, the now-familiar Silvio Ventures [NEX: SIV.H]. The first of GTT.H's 62 trades was made more than three hours after the market opened, at about 12:45 PM ET. This trade was of 10,000 shares at 2 cents/share. Amongst the trades were many blocks, groups of trades which went at the same time with one financial institution either on the buy or sell side for that entire group. In the face of the climb, some of these presumed blocks appeared to be sold blocks, with a single financial institution on the sell side. The presence of TD Securities was evident in long stretches of trades composed of separate trades and/or different blocks. TD operates a popular discount brokerage service: when this fact is combined with the evidently spontaneous enthusiasm in the discussion board linked to in the above paragraph, there were more blocks than a simple reading of the financial institutions would indicate.

It took less than seven minutes for the price of Global Tree to go from 2 cents/share to 2.5 cents/share, the price at which 21 of the 62 trades took place. Only six of the trades - the first six - went at 2 cents/share, and the other 35 went for 3 cents/share. With the exception of a trade at about 3:39 PM ET, of 41,000 shares at a time when the activity in GTT.H was settling down, the last trade at 2.5 cents/share was at almost exactly 2:45 PM; it was the 38th trade of the day. A total of 168,000 shares of GTT.H traded at 2 cents/share on Thursday, with total value of $3,360. At 2.5 cents/share, a total of 650,000 traded for a value of $16,250. A total of 714,000 shares went at 3 cents/share, for a total value of $21,420 of GTT.H at that price. As indicated above, the 2-cent'ers were all at the start of GTT.H's Thursday trading. While there was some intermixing between the 2.5 cent'ers and the 3-cent'ers, the latter clustered near the later times and the former clustered around the earlier times. All of the above indicate a buying rush, which (as noted above) may have been a forecast-driven stampede.

The second most numerous trader was the above-mentioned Silvio Ventures, with 11 trades during the day. All but one were odd-lot-sized; those ten odd lotters were bought through PI Financial, as has been the case recently. The one board-lot-sized trade of the day, the last, was at 50 cent/share; PI was not involved with it. The odd-lot'ers were all at 47 cents/share. Silvio closed at 50 cents/share, unchanged since Wednesday's close, with total daily volume of 2,575 shares.

The top percentage gainer in Thursday's trading was, as mentioned above, Global Tree, which closed at 3 cents/share for a gain of 1.5 cents/share or a flat 100% on the day. The top percentage decliner for Thursday was Wednesday's top percentage gainer, Mazarin Inc. [NEX: MAZ.H]. Mazarin closed at 8.5 cents/share, for a decline of 1.5 cents/share or 16.67% on the day. Two of the three trades in MAZ.H, comprising 6,000 shares between them, were made right at the opening, and the third, of 10,500 shares, took place within a minute of the open. The first two had the same financial institution on the sell side, National Bank, while the third one had a different sell-side financial institution, Desjardins Securities. All three trades were for the closing price of 8.5 cents/share. Total daily volume was 16,500 shares.

Finally, the above-mentioned list of yesterday's top ten traders, as measured by % of total outstanding shares or daily turnover (all prices in per-share terms):

1. Global Tree Technologies Inc. [NEX: GTT.H], closed at 3 cents for a gain of 1.5 cents - 2.96% of total shares outstanding;
2. Gold Star Resources Corp. [NEX: GXX.H], closed at 15.5 cents for a gain of 2 cents - 0.979% of TSO;
3. Magnate Ventures Inc. [NEX: MGV.H], closed at 25 cents unchanged - 0.902% of TSO;
4. HTI Ventures Corp. [NEX: HTX.H], closed at 13 cents for a loss of 0.5 cents - 0.376% of TSO;
5. Gainey Resources Ltd. [NEX: GRD.H], closed at 30 cents for a loss of 5 cents - 0.350% of TSO;
6. SMC Ventures Inc. [NEX: SMV.H], closed at 16.5 cents for a loss of 2.5 cents - 0.255% of TSO;
7. Toba Industries Ltd. [NEX: TBG.H], closed at 12.5 cents for a loss of 0.5 cents - 0.184% of TSO;
8. Abitibi Mining Corp. [NEX: ABB.H], closed at 15 cents for a gain of 1 cent - 0.148% of TSO;
9. GTO Resources Inc. [NEX: GTR.H], closed at 57 cents for a loss of 3 cents - 0.137% of TSO;
10. Golden Hat Resources Inc. [NEX: GHA.H], closed at 6 cents unchanged - 0.136% of TSO.

NOTE: I am not affiliated with the TSX, nor is this blog. The Barrel's Bottom Composite index is not endorsed by the TSX.

TSX Nex Home Page