Canaccord was buying in volume today in Toronto. A lot of people listen to Canaccord and they've built up quite a following. I hadn't heard much from them so this could still be an early point in the stocks move (hard to believe...believe). Still no selling by Dloughy .....and I would say that Merrill is still accumulating in volume. Funny that my own bank TD Waterhouse is recommending the new Sunrise REIT and nothing about Extendicare, guess they don't do any underwriting or corporate banking with EXE. That's OK cause if I'd have bought what they recommended I'd be in the hole big time. On stuff like Bennet Environmental and others. pmoll
Yeh pmoll, listen to these guys--HA. Remember when they came out with their IPO and then pulled the rug out from everyones feet buying it back at about 1/2 price? Great game of shorting their recommendations. About time they cut their trading commissions also Merrill sure took another chunk of EXE yesterday around closing time--possibly time for them to run it again.
My ECN shows institutional ownership up again from 26.186 to 26.432% I figure we could see at least 60% institutional ownership on EXE eventually, but it'll take time.
It sure looks like the oils and the steels have to blow off before we have a more sensible market. Mister mkt is pretty neurotic right now (fear) and becomes frantic when he feels he's going to miss the big profits in the frothy oil and steel companies (greed). The hedge funds and specialists are playing the market the way Von Beethoven plays the piano.