On Friday, the Barrel's Bottom Composite Index for the NEX closed at 86.74, up 0.21 points or 0.243% from its previous close of 86.53. As the graph above indicates, there was a vibrant morning (in Eastern-time terms) in today's NEX trading, which ended with a precipitous drop shortly after noon ET.
The market's open pushed the BBC Index up more than a tenth of a point. A six-cent opening gain in ITI World Investment Group Inc. Class 'A' [NEX: IWI.H], combined with two others that opened unchanged, were responsible for the rise. No NEX stocks opened down in the first minute of trading, although a 0.5 cent drop in Global Tree Technologies Inc. [NEX: GTT.H] at about 9:42 AM ET and a one-cent drop in Challenger Development Corp. [NEX: CDQ.H] as of about 10:03 AM ET, did push the BBCI down a little at those times.
For the rest of the morning, it was basically uphill from there. Global Tree recovered, although temporarily, to 3 cents/share as of about 10:16 AM and stayed at that price for more than an hour: 7 trades' worth, out of a day's total of 18. A much larger rise in the index was effected by a 2-cent/share opening rise in Abitibi Mining Corp. [NEX: ABB.H], on its first and last trade of the day, in the next minute. Other risers during late morning helped push the BBCI up to above 87 as of about 11:07 AM ET. The upsurge continued to about 11:30 AM ET when the BBCI almost reached the day's high of 87.21, thanks to a 1.5 cent opening gain for Rocher Deboule Minerals Corp. [NEX: RD.H] A four-minute dip starting at about 11:35 AM ET was erased (and then some) by a 0.5 cent/share rise in Toba Industries Ltd. [NEX: TBG.H] to 14 cents/share, which put TBG.H at a 1.5 cent/share gain since Thursday's close as of that point. Toba overcompensated for a return to 2.5 cents/share by Global Tree in the same minute. The day's high was reached at 11:39 AM ET, and the BBCI was close to that level until shortly after noon ET.
At 12:02 PM ET, though, the index dropped by almost nine-tenths of a point. The culprit was Devin Energy Corporation [NEX: DVC.H], whose first trade was at 81 cents/share for a drop of 54 cents/share since its previous close. Two minutes later, a trade in Devin went for 70 cents/share, abruptly taking the stock from close to the high part of its trading range to near the bottom of it. As a result, the BBCI dropped by more than a point between about 12:01 and 12:04 PM ET. Devin recovered shortly afterwards, pushing the BBCI back up to 82.32 by 12:10 PM ET.
After that plunge, the BBCI leapt up three times in the afternoon, thanks to a 0.5 cent/share rise in Biomerge Industries Inc. [NEX: BIL.H] as of about 12:24 PM ET, a 5 cent/share rise in infrequently-traded Prism Resources Inc. [NEX: PRS.H] at about 1:59 PM ET, and a 10-cent/share rise in Tri-River Ventures Inc. [NEX: TVR.H] as of about 3:15 PM ET. Another 0.5 cent/share drop in Global Tree on its last trade of the day, to 2 cent/share, pushed the BBCI down somewhat as of about 2:54 PM ET. Trading was quiet in the last hour: the last two trades of the day (and week) didn't change the prices of each of the stocks. So, the 3:15 PM ET jump provided by Tri-River put the BBCI at its closing value of 86.74.
Here are the hourly values for the Barrel's Bottom Composite Index, rounded to the nearest hundredth of a point:
- 10 AM ET: 86.63
- 11 AM ET: 86.90
- 12 PM ET: 87.20
- 1 PM ET: 86.50
- 2 PM ET: 86.67
- 3 PM ET: 86.62
- 4 PM ET/Close: 86.74
This is the first part of the daily NEX report. The second part covers NEX stocks that have sent out news releases during October 5th 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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