Highlighted NEX Stocks For November 2nd

Thirty-five NEX stocks traded on Friday. Of these, 13 advanced, 7 declined and 15 remained unchanged. There were 137 trades. The top trader in terms of raw volume, as it was on Thursday, was Golden Hat Resources Inc. [NEX: GHA.H], with 869,000 shares traded. According to the TSX Venture closing summary, the top trader in terms of value of shares traded for Friday was also Golden Hat. In addition, GHA.H traded the most frequently of any NEX-board stock, as elaborated upon below, as well as first on the top ten daily-turnover list found below. This makes Golden Hat the "stock of the day" for Friday.

Two NEX stocks traded more than ten times on Friday. The most numerous trader in terms of number of trades was, as mentioned just above, Golden Hat; it traded 29 times. The action in GHA.H's trading was much like that of Thursday's: the stock strained at the resistance level of 10 cents/share, sometimes reaching above it but then falling back down; it ended up with a slight gain on the day. As might be expected, there were presumably several large blocks in the trades, as suggested by similarities in timing and buy-side financial institution. The first ten trades, all made from about 9:34 AM ET to 10:36 AM ET, were all made through Wolverton. The first six trades all went within three-and-a-half minutes of each other, but their total volume was 162,000. Based upon the trade record, it seems that there was one block of 160,000 shares or two of 80,000 each, with a 2,000 share trade stuck in between them as the third trade, but the record wasn't definitive on this count. The first six went at 10 cents/share, and the seventh went at 9.5 cent/share. The last four of the ten left a less ambiguous record; they seemed to comprise a single block of 150,000 shares. Those four trades all went at 9.5 cents/share. There also seemed to be: a 50,000-share bought block, comprised of 2 trades both of which went at 10 cents/share, through Canaccord that made up trades twelve and thirteen; a 250,000 share bought block comprised of trades sixteen through twenty, as bought through Scotia at prices of 10, 10, 10.5, 11 and 11 cents/share for each of those trades; a 40,000 share block, composed of trades 23 and 24 as bought through an anonymous financial institution at 10.5 cents/share; and, a 40,000 share block made up of trades 26 and 27, as bought through Canaccord at 10 cents/share. As was the case yesterday, large four-figure-valued trades have seemingly been put into Golden Hat over the last two days - in a few cases, five-figure-valued. The sell-side financial institutions, as was the case yesterday, didn't cluster in a similar unambiguous way beyond (in a few cases) 2-trade clusters, none of which summed up to more than five-figure volumes. This two-day pattern suggests that GHA.H shares are moving from the holders of relatively small positions to buyers of relatively large positions.

The price changes in GHA.H indicate such, although there is still some resistance to a clean break over 10 cents/share. As indicated above, the opening price of Golden Hat shares was 10 cents/share; it stayed at that price for 6 trades. The next five saw a dip to 9.5 cents/share, which went back to 10 cents/share by trade twelve. The next trade went at 10.5 cents/share, but this nudge above 10 cents/share didn't last: the next three went at 10 cents/share. The eighteenth, though, put the price at 10.5 cents/share again, and the following two went at 11 cents/share. This second attempt didn't last either; the next four trades went at 10 cents/share. The one after those four, the last trade of the day, went at 9.5 cents/share; its price equaled the day's low that was set by trades seven to eleven. So, Golden Hat closed at 9.5 cents/share, at its daily low, but nevertheless up 0.5 cents/share on the day. 176,000 shares, or $16,720 worth, traded at 9.5 cents/share; 439,000 shares, or $43,900 worth, traded at 10 cents/share; 160,000 shares, or $16,800 worth, traded at 10.5 cents/share; and, 94,000 shares, or $10,340 worth, traded at 11 cents/share.

Second-highest in number of trades on Friday was still-frequent-trader Trilogy Metals Inc. [NEX: TRI.H], with fourteen of them. The price action in Trilogy was relatively sedate, with the stock opening up unchanged at 90 cents/share. The next five, not including an odd-lot-sized trade of 300 shares at 87 cents/share, went at 92 cents/share; that odd-lotter was the third of the day. The rest of them, though, went at 90 cents/share. So, Trilogy closed at 90 cents/share, unchanged on the day, on daily volume of 40,300 shares - relatively light with respect to the rest of the week.

The top percentage gainer in Friday's trading was Global Tree Technologies Inc. [NEX: GTT.H], which closed at 2 cents/share for a gain of 0.5 cents/share, or 33.33%, on the day. A single trade, of 10,000 shares as of about 3:16 PM ET, set the closing price that put Global Tree at the top of this category.

The top percentage decliner for Friday was International Alliance Resources Inc. [NEX: ALL.H], which closed at 12 cents/share for a decline of 5.5 cents/share or 31.43%. There were only two trades of ALL.H, one of 11,000 shares at 15.5 cents/share and the other of 14,000 shares at 12 cents/share. Both were sold through Canaccord, and both went within seventy seconds of each other, suggesting that a sold block of 25,000 shares depressed the price. The first of the two trades went at about 3:56 PM ET.

Finally, here is the above-mentioned list of yesterday's top ten traders, as measured by % of total outstanding shares or daily turnover (all prices in per-share terms):

1. Golden Hat Resources Inc. [NEX: GHA.H], closed at 9.5 cents for a gain of 0.5 cents - 2.52% of total shares outstanding;
2. BHR Buffalo Head Resources Ltd. [NEX: BHR.H], closed at 22 cents for a gain of 3 cents - 1.38% of TSO;
3. Stone Mountains Holdings Inc. [NEX: SMO.H], closed at 2.5 cents for a loss of 0.5 cents - 0.716% of TSO;
4. Electrohome Limited class 'Y' non-voting [NEX: ELL.K], closed at 15 cents unchanged - 0.451% of TSO;
5. Monster Uranium Corp. [NEX: MU.H], closed at 50 cents for a gain of 6 cents - 0.443% of TSO;
6. Electrohome Limited class 'X' voting [NEX: ELL.H], closed at 12 cents unchanged - 0.389% of TSO;
7. Magnate Ventures Inc. [NEX: MGV.H], closed at 32 cents for a gain of 1.5 cents - 0.324% of TSO;
8. Gtech International Resources Limited [NEX: GCH.H], closed at 32 cents for a loss of 3 cents - 0.290% of TSO;
9. Trilogy Metals Inc. [NEX: TRI.H], closed at 90 cents unchanged - 0.273% of TSO;
10. Washmax Corp. [NEX: WMX.H], closed at 23 cents for a gain of 5.5 cents - 0.273% of TSO [slightly less than #9s, but equalized due to rounding off].

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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