NEX Report for October 15, 2007

On Monday, the Barrel's Bottom Composite Index for the NEX closed at 87.00, up 0.80 points or 0.928% from its previous close of 86.20. The BBC Index hardly moved at all in the first minute of trading, and little until about 9:43 AM ET. A half-cent/share rise in Biomerge Industries Ltd. [NEX: BIL.H] put the BBCI up more than a quarter of a point during that minute. Six minutes later, a 1.5 cent/share rise in infrequently-traded Allied Pacific Properties and Hotels Ltd. [NEX: PPH.H] added a comparable amount to the index, pushing it above 86.7, where it stayed until about 10:05 AM ET.

From that point, it dropped. A 0.5 cent/share opening decline in the price of Gold Star Resources [NEX: GXX.H] turned into a 3 cent/share decline thanks in large part to a 2 cent/share interday drop at about 10:05 AM ET, pushing the BBCI back below 86.7. The minute after that saw Biomerge giving up its 0.5 cent/share gain, which caused the index to fall almost to 86.4. The cumulative effect of several other interday decliners pushed the BBCI down to below 86 as of 11:26 AM ET. It stayed at the 86 level, or just below, until 12:02 PM ET.

Within a minute of that time, an opening gain of 6 cents/share in Tapango Resources Ltd. [NEX: TPA.H] vaulted the BBCI up above 86.7 again. After a backtrack of less than a tenth of a point, the BBCI leapt up to almost 86.8 as of 12:40 PM ET, thanks to a 10.5 cent/share leap in infrequently-traded Arcland Resources Inc. [NEX: ADR.H]. After falling back somewhat in the next minute, the index hovered at around 86.5 until 1:13 PM ET.

At that point, the BBCI jumped up to a level that was close to its daily high: 87.44. The cause was a 9.5 cent/share opening leap in the price of Maximum Ventures Inc. [NEX: MVI.H] on its first and last trade of the day. After that leap, the index drifted downwards to its 2 PM ET level of 87.13. One downward cause was a 12 cent/share drop in the price of MCO Capital Inc. class 'B' [NEX: MCO.H], which pushed the BBCI down more than a tenth of a point as of 1:35 PM ET. Another decline of more than a tenth of a point came at about 1:48 PM ET due to a 1 cent/share interday drop in Toba Industries Ltd. [NEX: TBG.H]. Right after 2 PM ET, the drift reversed itself, carrying the BBCI up to its daily high of 87.49 as of 2:37 PM ET, where it stayed until 2:51 PM ET.

This level failed to hold, however, as did 87 itself as of 3:15 PM ET. 86.9 held, though, and a few stabs were made at 87 in the last forty-five minutes of trading. The closest came last, as of 3:58 PM ET with the last trades of the day. A 4 cent/share interday recovery in decliner Datavest International Ltd. [NEX: DAI.H], mitigating its loss on the day to 1.5 cents/share, managed to give the BBCI a final pull-up, to minisculey below its rounded-off closing value of 87.00.

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

• 10 AM ET: 86.71
• 11 AM ET: 86.09
• 12 PM ET: 85.99
• 1 PM ET: 86.77
• 2 PM ET: 87.13
• 3 PM ET: 87.32
• 4 PM ET/Close: 87.00

This is the first part of the daily NEX report. The second part covers NEX stocks that have sent out news releases during October 15th and the third part covers NEX stocks of note for that day.

[Correction Notice: The earlier version of this report incorrectly had "during October 12th" in the above paragraph; the proper date has been substituted. Apologies to anyone who was misled.]


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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