Noront Resources

High-grade Ni-Cu-Pt-Pd-Au-Ag-Rh-Cr-V discoveries in the "Ring of Fire" NI 43-101 Update (March 2011): 11.0 Mt @ 1.78% Ni, 0.98% Cu, 0.99 gpt Pt and 3.41 gpt Pd and 0.20 gpt Au (M&I) / 9.0 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inf.)

about 15 years ago

in response to cavedude's message

Nope.

We can see strong bids all the way and at the moment when the SP had to decline new bids came from behind the cirtain.

I believe there is (or there are) large orders and brokers are still trying to do their job - buy as much as possible on bullish stock at the lowest price. This is very high profile job, actually brokers exist exactly to provide such service to investors (not to charge a commission for transactions as you could guess :) ).

The strategy is to put serious asks at the daily climax of the SP and push for a limited time SP lower. So they push the SP down by daytrader's money and hyperactive players and collect their shares at the local bottom. We did see that pattern twice even today: at the open and right now. The problem is the number of shares they have to buy: it is not possible to keep the price down for a while because the asks will dry.

SO HERE IS THE MAIN CONCLUSION:

We are driven NOT buy the news. We are driven by a large, huge order(s) from one or more investors. We do not know the reason of these orders (suspecting NR) but the orders themselves are driving us up. Until the orders will be completed we WILL NOT STOP GROWING.