On Tuesday, the Barrel's Bottom Composite Index for the NEX closed at 85.75, down 0.99 points or 1.14% from its previous close of 86.74. The decline started right at the open, with a 2 cent/share drop in Devin Energy Corporation [NEX: DVC.H] and a 5-cent/share drop in Maximum Ventures Inc. [NEX: MVI.H], overpowering a 1 cent/share gain in Avigo Resources. [NEX: TMX.H]. Several stocks opened unchanged during the first minute of trading. Net of Avigo, the two decliners pushed the BBC Index down almost 0.35 points to 86.38, the level at which it stayed until ten minutes after 10 AM ET.
It was at that point that the index turned around, starting with a 1 cent/share first-trade gain in Tapango Resources Ltd. [NEX: TPA.H] at about 10:11 AM ET. Another boost was added five minutes later when Tapango inched up another cent, and at the following minute when the same TPA.H gained another cent, which put it up 3 cents/share on the day. Each 1 cent/share gain in Tapango added about more than 0.11 points to the BBCI, leaving it at 86.73 by 10:17 AM ET. Nine minutes later, the index moved from a loss to a gain on the day with a 1.5 cents/share first-trade gain in BHR Buffalo Head Resources Inc. [NEX: BHR.H]. By 10:29 AM ET, thanks to a 4.5 cents/share opening-trade gain in HLD Land Development Limited Partnership [NEX: HLD.UN.H], the BBCI was just short of 86.8, a level it would have stayed at until 11 AM ET had there not been a 0.5 cent/share drop in the price of Landmark Global Financial Corporation [NEX: LST.H] as of about 10:55 AM ET. The drop due to Landmark's first trade, or opening trade, pushed the BBCI down to its 11 AM level of 86.78, where it stayed until 11:20 AM ET.
At that time, the BBCI lost some ground, although not without a secondary reaction. A 2-cent/share drop in Isee3d Inc. [NEX: ICT.H] at about 11:20 AM ET, and a 1.5 cent/share first-trade drop in Mazarin Inc. [NEX: MAZ.H] about ten minutes later, put the BBCI below 86.6 as of 11:30 AM ET, establishing a ceiling until 12 noon ET. A further 1-cent/share gain in Tapango overpowered a 0.5 cent/share drop in Golden Hat Resources Inc. [NEX: GHA.H] to put the index at its 12:00 PM ET value of 86.64, a level at which it approximately stayed at until a 5 cent/share first-trade gain in Focus Ventures Ltd. [NEX: FCV.H] moved the index to about 86.72 at about 12:42 PM ET. 86.7 became a floor for the BBCI until an hour later, when a 2 cent/share opening drop in the price of Abitibi Mining Corp. [NEX: ABB.H] put the index below 86.6.
A late-afternoon (ET) decline started in earnest during the next hour. The BBCI went below 85.5 as of 2:42 PM ET, due to a 1.5 cent/share interday drop in the price of Lomiko Resources Inc. [NEX: LMR.H]. It took only six minutes for the BBCI to fall below 86.4 as it was pushed down by a 6.5 cent/share decline in Arcland Resources Inc. [NEX: ADR H] on its first and last trade of the day. 86.3 was breached right after 3 PM ET due to a 2.5 cent/share drop in Monster Uranium Inc. [NEX: MU.H] that put it from a 1 cent/share gain on the day to a 1.5 cent/share loss. At 3:03 PM ET, thanks to a 2 cent/share drop in the price of Guildhall Minerals Ltd. [NEX: GDM.H], the index was below 86.25.
The last-hour drop wasn't over, though. The next floor to go was 86, which was dropped through as of about 3:17 PM ET as Maximum Ventures dropped another 5 cents/share to close at a 10 cent/share decline on the day. The only subsequent movement in the BBCI was downwards: 85.91 changed to 85.82 as of about 3:51 PM ET due to a 4 cent/share drop in ITI World Investment Group Inc. class 'A' [NEX: IWI.H]. Two other declines near the close, in Magnate Ventures Inc. [NEX: MGV.H] as of about 3:55 PM ET and a 0.5 cent/share backtrack in HLD Land Development as of about 3:58 PM ET, lowered the BBCI to its closing value of 85.75.
Here are the hourly values for the Barrel's Bottom Composite Index, rounded to the nearest hundredth of a point:
This is the first part of the daily NEX report. The second part covers NEX stocks that have sent out news releases during October 9th and the third part covers NEX stocks of note for that day.
It was at that point that the index turned around, starting with a 1 cent/share first-trade gain in Tapango Resources Ltd. [NEX: TPA.H] at about 10:11 AM ET. Another boost was added five minutes later when Tapango inched up another cent, and at the following minute when the same TPA.H gained another cent, which put it up 3 cents/share on the day. Each 1 cent/share gain in Tapango added about more than 0.11 points to the BBCI, leaving it at 86.73 by 10:17 AM ET. Nine minutes later, the index moved from a loss to a gain on the day with a 1.5 cents/share first-trade gain in BHR Buffalo Head Resources Inc. [NEX: BHR.H]. By 10:29 AM ET, thanks to a 4.5 cents/share opening-trade gain in HLD Land Development Limited Partnership [NEX: HLD.UN.H], the BBCI was just short of 86.8, a level it would have stayed at until 11 AM ET had there not been a 0.5 cent/share drop in the price of Landmark Global Financial Corporation [NEX: LST.H] as of about 10:55 AM ET. The drop due to Landmark's first trade, or opening trade, pushed the BBCI down to its 11 AM level of 86.78, where it stayed until 11:20 AM ET.
At that time, the BBCI lost some ground, although not without a secondary reaction. A 2-cent/share drop in Isee3d Inc. [NEX: ICT.H] at about 11:20 AM ET, and a 1.5 cent/share first-trade drop in Mazarin Inc. [NEX: MAZ.H] about ten minutes later, put the BBCI below 86.6 as of 11:30 AM ET, establishing a ceiling until 12 noon ET. A further 1-cent/share gain in Tapango overpowered a 0.5 cent/share drop in Golden Hat Resources Inc. [NEX: GHA.H] to put the index at its 12:00 PM ET value of 86.64, a level at which it approximately stayed at until a 5 cent/share first-trade gain in Focus Ventures Ltd. [NEX: FCV.H] moved the index to about 86.72 at about 12:42 PM ET. 86.7 became a floor for the BBCI until an hour later, when a 2 cent/share opening drop in the price of Abitibi Mining Corp. [NEX: ABB.H] put the index below 86.6.
A late-afternoon (ET) decline started in earnest during the next hour. The BBCI went below 85.5 as of 2:42 PM ET, due to a 1.5 cent/share interday drop in the price of Lomiko Resources Inc. [NEX: LMR.H]. It took only six minutes for the BBCI to fall below 86.4 as it was pushed down by a 6.5 cent/share decline in Arcland Resources Inc. [NEX: ADR H] on its first and last trade of the day. 86.3 was breached right after 3 PM ET due to a 2.5 cent/share drop in Monster Uranium Inc. [NEX: MU.H] that put it from a 1 cent/share gain on the day to a 1.5 cent/share loss. At 3:03 PM ET, thanks to a 2 cent/share drop in the price of Guildhall Minerals Ltd. [NEX: GDM.H], the index was below 86.25.
The last-hour drop wasn't over, though. The next floor to go was 86, which was dropped through as of about 3:17 PM ET as Maximum Ventures dropped another 5 cents/share to close at a 10 cent/share decline on the day. The only subsequent movement in the BBCI was downwards: 85.91 changed to 85.82 as of about 3:51 PM ET due to a 4 cent/share drop in ITI World Investment Group Inc. class 'A' [NEX: IWI.H]. Two other declines near the close, in Magnate Ventures Inc. [NEX: MGV.H] as of about 3:55 PM ET and a 0.5 cent/share backtrack in HLD Land Development as of about 3:58 PM ET, lowered the BBCI to its closing value of 85.75.
Here are the hourly values for the Barrel's Bottom Composite Index, rounded to the nearest hundredth of a point:
- 10 AM ET: 86.38
- 11 AM ET: 86.78
- 12 PM ET: 86.64
- 1 PM ET: 86.72
- 2 PM ET: 86.55
- 3 PM ET: 86.38
- 4 PM ET/Close: 85.75
This is the first part of the daily NEX report. The second part covers NEX stocks that have sent out news releases during October 9th 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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