Crystallex Market Activity Foreshadows News Forget slow and steady accumulation. Market action in shares of Crystallex Corp. (AMEX: KRY) shows that there is some major buying going on, the kind where huge blocks of trades and market buys takes out the ask. With barely an hour into the trading session, Crystallex has already traded 3.8 million shares, almost right in line with the average daily volume, that is helping the stock notch a 9.73% gain to hit $4.83. Today's heavy volume is no outlier because just this week, Crystallex shares traded 11.3 million shares as it moved to the upside on Tuesday. The string of heavy volume days are the most active trading sessions since late March when Crystallex shares rose following an announcement by fellow miner Gold Reserves Inc. (AMEX: GRZ) that it had received a permit from the Venezuelan government. The recent upswing in Crystallex follows comments made by the CEO during a Latin American mining conference attended by fund managers and institutional investors last week.
Trading action is even heavier on the Toronto Stock Exchange, with Canadian shares of the mining company higher by $.49, or 10.50%, to $5.35 on volume of 5.7 million shares. Average daily volume is usually just around 1.9 million shares. Investors can only speculate, but given the abnormal volume coupled with a sizable percentage increase in shares of Crystallex, news might be on the horizon.
-------------------- "Great Day for Up!"....Dr. Seuss
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