NEX Report for October 1, 2007

[Correction Notice: Due to an input error, this article and the BBCI values for mid- and late afternoon had to be revised substantially. Apologies to anyone who was misled.]



On Monday, the Barrel's Bottom Composite Index for the NEX closed at 87.19, up 0.65 points or 0.415%, from Friday's close at 86.83. The BBCI started off on a downturn, thanks to opening declines for Devin Energy Corporation [NEX: DVC.H], which traded a single board lot at market's open for $1.30/share for a loss of 5 cents/share since Friday's close. Also opening lower was Allied Pacific Properties and Hotels Ltd. [NEX: PPH.H], which started off at 3.5 cents/share, down 1.5 cents/share since its previous close, on its first and last trade of the day. Other decliners in the first half-hour of trading, such as Silvio Ventures Inc. [NEX: SIV.H] and Magnate Ventures [NEX: MGV.H], pushed the BBCI down below 86.4 by 10 AM ET, and well below that level shortly afterwards.

Then, the index picked up thanks to the above-mentioned Devin Energy, which went from $1.30/share to $1.50/share as of about 10:20 AM ET. A half-cent rise in newly-NEX-listed Biomerge Industries Ltd. [NEX: BIL.H] pushed the index up above 86.8 just before 10:50 AM ET. The BBCI was close to cracking 87 when, as of about 11:37 AM ET, ITI World Investment Group Inc. class 'A' [NEX: IWI.H] took a tumble from 50 cents/share to 45 cents/share. This drop took the BBCI down more than a tenth of a point.

Except for brief upturns (and one brief downturn) which didn't last long, the index stayed at about the 86.8 to 86.83 level until about 1:55 PM ET, when it broke through 87. Helping it up to that level was a 3 cent/share rise in Moneta Resources Inc. [NEX: MOT.H]

After a slight dip, the BBCI continued rising between 2 and 3 PM ET, reaching close to 87.2 just before the latter hour. A 1.5 cent/share gain in Monster Uranium [NEX: MU.H] from its previous trade, and a recovery in Mazarin Inc. [NEX: MAZ.H] from a 0.5 cent/share loss to unchanged, provided the push to the BBCI at that time.

In the last hour of trading, despite a brief but definite burst through of the 87.2 level, the BBCI drifted downwards somewhat. An 8.5 cent/share gain in Tri-River Ventures Inc. [NEX: TVR.H] at about 3:48 PM ET turned into a 3.5 cent/share gain one minute later. Also pushing the BBCI back down was a 0.5 cent/share loss in Global Tree Technologies [NEX: GTT.H], on a trade of 112,000 shares within two minutes of the close; it put the BBCI at its closing value of 87.19*.

Here are the hourly values for the Barrel's Bottom Composite Index, rounded to the nearest hundredth of a point:

• 10 AM ET: 86.40
• 11 AM ET: 86.82
• 12 PM ET: 86.80
• 1 PM ET: 86.81
• 2 PM ET: 87.06
• 3 PM ET: 87.19
• 4 PM ET/Close: 87.19 (slightly lower than 3 PM's value.)

This is the first part of the daily NEX report. The second part covers NEX stocks that have sent out news releases during October 1st and the third part covers NEX stocks of note for that day.

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

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