NEX Report for October 11, 2007

On Thursday, the Barrel's Bottom Composite Index for the NEX closed at 87.26, down 0.22 points or 0.251% from its previous close of 87.48. The BBCI gained about 0.14 points in the first minute of trading, thanks to a 0.5 cent/share rise in the price of Abitibi Mining Corp. [NEX: ABB.H] and a 1 cent/share rise in Toba Industries Ltd. [NEX: TBG.H] on their first trades of the day. A few other stocks opened unchanged; none opened down in the first minute of trading. A further 1 cent/share rise in Toba at about 9:33 AM ET pushed the index up another 0.11 points; Rocher Deboule Minerals Corp. [NEX: RD.H] added another boost to the index, at about 9:45 AM ET, by gaining 1 cent/share from its previous close. The BBCI stayed at 87.78 from then until 10:25 AM ET.

There was little movement in the index for the rest of the morning, even though 87.8 was broken though as of 11:43 AM ET due to a 6 cent/share rise in the price of Devin Energy Corporation [NEX: DVC.H] on its first trade of the day.

Shortly before noon ET, the BBCI fell below 87.7, losing 0.2 points in the process, due to a 5 cent/share drop in the price of Surge Resources [NEX: SRH.H] on its first and last trade of the day at $1.40/share. The index stayed below 87.7 until 12:01 PM ET, when a 7 cent/share rise in GTO Resources Inc. [NEX: GTR.H] pushed the BBCI back to above 87.8. The resultant level of 87.81 held until 12:40 AM, and the BBCI stayed above 87.75 until 1:26 PM ET. The day's first trade of Maximum Ventures [NEX: MVI.H] at about that time shoved the index down 0.64 points, to 87.11, as a result of a 9.5 cent/share drop in MVI.H's price from its previous close.

The downturn didn't stop there, either; 87 was fallen through as of 1:42 PM ET because of a 0.5 cent/share interday drop in the price of Biomerge Industries Ltd. [NEX: BIL.H] The day's trough of 86.78 was reached at 2:27 PM ET.

After drifting for about 21 minutes, the BBCI leapt back above 87 at 2:48 PM ET, due to a recovery in the price of BIL.H to 2 cents/share. This return only lasted three minutes, though; 87 wasn't re-established as a floor until 3:40 PM ET when Biomerge moved up another 0.5 cents/share. A five cent/share interday rise in Avigo Resources Corp. [NEX: TMX.H], to its closing price of 50 cents/share a little after 3:48 PM ET, put the BBCI at its closing value of 87.26.

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

• 10 AM ET: 87.78
• 11 AM ET: 87.77
• 12 PM ET: 87.68
• 1 PM ET: 87.75
• 2 PM ET: 86.88
• 3 PM ET: 86.94
• 4 PM ET/Close: 87.26

This is the first part of the daily NEX report. The second part covers NEX stocks that have sent out news releases during October 11th 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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