My guess is that this coordinated raid was done in anticipation of a big move in gold on Monday after the Greek elections. The raids on gold and/or gold shares tends to happens just prior to an announcement of some central bank action that would normally be considered extremely bullish for gold. In this case it is going to be the Greek elections. I will further predict that just before it becomes clear that Spain (or possibly Italy) is going to need a much larger bailout we will see some other creative way to knock gold and gold shares down.
Either Greece leaves the Union or it votes to accept bailouts. If Greece takes the bailouts,(which is expected) there will be huge central bank printing--normally an event that would make gold/gold shares skyrocket. With this latest raid completed, we will be "skyrocketing" from a much lower level so as to make it appear as a non-event.
Good luck getting a regulator to look at this, you are going to need it.
I understand what you are saying. However, why this particular stock? I do not see similar action in other miners.
I had Fidelity check my balance. They are confused as well. But it does show that AUNFF is up 11.11 and closed at 1.10pps and say they will adjust my balance accordingly on Monday morning. However, quick look at Aurcana on the Canadian board and their site itself, adds to the confusion and trepedation. Of course, no one "home" at Aurcana headquarters now.
So, why the massive spike up and then subsequent massive spike down (apparently just seconds after the market closed?)? Would this have something to do with AUNFF going on the GDXJ? Just wondering what people's thoughts are on this strange activity and where we will find ourselves on Monday morning.
It wasn't just this one particular stock. Take a look at the posting for Jim Sinclaire below. There were a great number of gold stocks that were also hit with huge Market on the Close sell orders. This was clearly a coordinated raid.