NEX Report for October 12, 2007

On Friday, the Barrel's Bottom Composite Index for the NEX closed at 86.20, down 1.06 points or 1.21% from its previous close of 87.26. A 0.5 cent/share opening drop in the price of Biomerge Industries Ltd. [NEX: BIL.H] and a 6.5 cent/share opening drop in the price of Module Resources Incorporated, not offset by any opening gainers, pushed the BBC Index down more than 0.48 points in the first minute of trading. Another first-trade decliner, Toba Industries Ltd. [NEX: TBG.H], pushed the BBCI down another 0.06 points through opening down 0.5 cents/share from its previous close. Specialty Foods Group Income Fund [NEX: HAM.UN.H] also opened 0.5 cents/share down, pushing the index minisculely below 86.7 by 9:49 AM ET. It took a 2.5 cent/share opening gain in Isee3d Inc. [NEX: ICT.H] to push the BBCI above 86.7 again, to a rounded-off 86.75.

After penetrating 86.7 to the downside again at 10:06 AM ET, for about two minutes, the BBCI rallied above 86.75, thanks to a 1.5 cent/share opening gain for Rocher Deboule Minerals Corp. [NEX: RD.H] and above 86.8 two minutes subsequently thanks to an additional 1 cent/share rise in RD.H. This morning rise peaked at 86.88 as of 10:38 PM ET with a 3 cent/share jump in Isee3d, from a 10:05 AM ET trade that had put it back to unchanged.

The rally in the index fizzled, though, as of 10:44 AM ET. As of eight minutes after the start of the downturn, the BBCI had dropped to 86.54 due to a an 8.5 cent/share opening loss in the price of Datinvest International Ltd. [NEX: DAI.H] on its first and last trade of the day. The index didn't get back above 86.7 until 11:10 AM ET due to a 2 cent/share interday jump in the price of Abitibi Mining Corp. [NEX: ABB.H], which put it back to unchanged on the day. 86.8 was risen above as of 11:38 AM ET, thanks to a 8 cent/share opening rise in the price of MCO Capital Inc. class 'B' [NEX: MCO.H].

This point didn't mark the peak of the midday rise, though. The BBCI managed to climb slightly above 87 by 1:13 PM ET, being pushed up there by a 6 cent/share interday rise in the price of Greenshield Explorations Limited [NEX: GRX.H]. This peak lasted five minutes, until a 0.5 cent/share drop in Biomerge's price brought it down to just above 86.75. By 1:22 PM ET, because of a 2 cent/share interday drop in Abitibi's price, the BBCI got down to 86.58. From 1:37 PM ET to 3:06 PM ET, the index drifted between 86.69 and 86.74.

What started as a last-hour rally fizzled by 3:20 PM ET, turning into a definite last-hour decline later. By 3:46 PM ET, the BBCI was below 86.6. The major drop of the last hour came a minute later, when a 3 cent/share interday drop in Tapango Resources Ltd. [NEX: TPA.H] that put TPA.H down 5 cents/share on the day, sunk the BBCI to its closing value of 86.20.

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

• 10 AM ET: 86.75
• 11 AM ET: 86.60
• 12 PM ET: 86.78
• 1 PM ET: 86.91
• 2 PM ET: 86.68
• 3 PM ET: 86.71
• 4 PM ET/Close: 86.20

This is the first part of the daily NEX report. The second part covers NEX stocks that have sent out news releases during October 12th 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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