Wednesday, December 23, 2009

Scotia continues to buy - 24% buys of Century traded shares over the past 7 days has been done by Scotia (not including today's heavy Scotia buys)

The Scotia person appears to be gobbling up shares even more noticeably today. There are some Scotia sellers also, but to a much lesser degree. The person (s) on the buy side and the sell side do not look to be the same person (s). The Scotia buy person is buying from everyone, including the Scotia shares up for sale.

It's impossible to know if it's an institution that is accumulating these Century shares. However, as Carib noted, it appears to be an institution. You almost never see retail investors gobble up such large quantity of shares with each transaction, and so many frequent large transactions, and for so many continuous trading days. It's still positive if it's a large retail shareholder or a few large retail shareholders, assuming they are taking a long-term view of the company - with such a large investment, the accumulated shares will likely not be used for day trading purposes.

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