NEX Report for October 2, 2007

On Tuesday, the Barrel's Bottom Composite Index for the NEX closed at 86.34, down 0.65 points or 0.975%, from Monday's close at 87.19. The BBC Index started the day with a slight gain, despite a 0.5-cent drop in the share price of Golden Hat Resources Inc. [NEX: GHA.H] within the first minute of trading, because of a 3.5 cent/share rise in the price of SMC Ventures Corp. [NEX: SMV.H] in the same time period. A 1 cent/share drop in the price of Abitibi Mining Corp. [NEX: ABB.H], on its first board lot trade of the day at about 9:57 AM ET, pushed the BBCI from a gain to a loss. The index dropped below 87 for the first time, as of about 10:22 AM, because of a 0.5-cent/share drop in Biomerge Industries Ltd. [NEX: BIL.H]; it stayed around 86.9 for the rest of the morning.

87 was broached on the upside at about 12:25 PM ET, thanks to a 1.5 cent/share rise in Toba Industries Ltd. [NEX: TBG.H] from its last price as of about two hours previously. A further 0.5 cent/share rise in Toba eight minutes later, to 12.5 cents/share, pushed the BBCI close to even. Toba closed at 12 cents/share, up 1.5 cents/share on the day.

This resurgence didn't last very long, though, because of a 1 cent/share drop in the price of Rocher Deboule Minerals Corp., at about 1:09 PM ET, from its previous trade price as of about 11:18 AM ET. Despite a push-back from a 0.5 cent/share rise in MP Western Properties Inc. [NEX: MPW.H] about two minutes later, the index continued to drift downwards, until it dropped back through 87 due to a 15 cent/share drop in the price of Devin Energy Corporation [NEX: DVC.H] at about 1:32 PM ET. This drop was followed by a 5 cent/share decline in the price of Maximum Ventures Inc. [NEX: MVI.H] on its first board-lot-sized trade of the day. As of 1:43 PM ET, the BBCI was down to below 86.55.

A creep upwards back to about 86.59 was cold-decked as of about 2:32 PM ET by a 1-cent/share decline in the price of Moneta Resources Inc. [NEX: MOT.H], which took its price back to unchanged on the day. The 85.5 floor was penetrated on the downside right after the start of the last hour of trading, with a 2-cent/share decline in Monster Uranium [NEX: MU.H] from its previous trade, as of about 3:01 PM ET. This drop put Monster down 2 cents/share on the day. The rest of the last hour of trading saw the BBCI churn until two minutes before trading ended, with the last trade of the day of Focus Ventures Ltd. [NEX: FCV.H]. Focus dropped 3 cents/share from its previous board-lot-sized trade to finish the day with a 0.5 cent/share loss from its previous close on last Friday. This last trade left the BBCI at its closing value of 86.34.

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

• 10 AM ET: 87.11
• 11 AM ET: 86.92
• 12 PM ET: 86.94
• 1 PM ET: 87.17
• 2 PM ET: 86.55
• 3 PM ET: 86.53
• 4 PM ET/Close: 86.34

This is the first part of the daily NEX report. The second part covers NEX stocks that have sent out news releases during October 2nd 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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