Fairly predictable market action today. After running up fairly quickly to 19 cents, the profit takers started hitting the bids and lowering the asks.
BMO Nesbitt had placed asks of 100,000 shares at the 15, 16, 18 and 19 cent levels in late February and when all of the 19-cent shares failed to sell today, they dumped another 200k shares at 16 to 17 cents.
TD has been a consistent profit taker the past week or more after accumulating over 8 million shares in Jan and Feb. UBS bought 100k shares at 14.5 cents on Friday and sold them today at 17 cents for a $2,500 gain.
It's all part of the normal process of moving higher and the new buyers will probably want much higher prices before they take profits.
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