Oh ok sorry bout not explaining it.  If you look on the buy side and sell side, the volumes are small over many houses.  this means that retail investors are driving the price on both sides.  If the pros were in, you would see large volumes in the bigger houses which is not there.  Some large cross trades would be more evidence that the big guys were playing or interested.  If you go back to Jan 16 for example it's easier to see. Houses 77, 33, 7, 1 and 2 are moving money around, maybe even 62.  The others are small positions that the little guy/girls are making.  Although retail investors can move a market, they don't usually move it much.

 

House Positions for C:NVS from 20130116 to 20130116
House Bought $Val Ave Sold $Val Ave Net $Net
77 Peters 133,000 146,362 1.10 0   133,000 -146,362
62 Haywood 90,911 100,909 1.11 150 164 1.093 90,761 -100,745
33 Canaccord 145,000 159,589 1.101 91,000 100,749 1.107 54,000 -58,840
37 MacDougall 25,000 27,750 1.11 0   25,000 -27,750
46 Macquarie 24,100 26,469 1.098 0   24,100 -26,469
79 CIBC 57,100 62,767 1.099 55,275 60,832 1.101 1,825 -1,935
39 Merrill Lynch 9,200 10,149 1.103 8,200 8,998 1.097 1,000 -1,151
13 Instinet 39,800 43,965 1.105 39,200 43,364 1.106 600 -601
14 ITG 0   36 39 1.083 -36 39
9 BMO Nesbitt 0   1,000 1,120 1.12 -1,000 1,120
82 Stifel Nicholas 0   2,000 2,180 1.09 -2,000 2,180
101 Newedge 3,500 3,861 1.103 5,500 6,076 1.105 -2,000 2,215
85 Scotia 1,000 1,120 1.12 3,500 3,841 1.097 -2,500 2,721
99 Jitney 20,500 22,551 1.10 24,100 26,510 1.10 -3,600 3,959
124 Questrade 1,400 1,550 1.107 5,600 6,104 1.09 -4,200 4,554
7 TD Sec 115,845 127,285 1.099 154,200 169,945 1.102 -38,355 42,660
1 Anonymous 58,600 64,292 1.097 132,000 145,123 1.099 -73,400 80,831
80 National Bank 14,105 15,649 1.109 95,700 105,352 1.101 -81,595 89,703
2 RBC 800 888 1.11 122,400 134,759 1.101 -121,600 133,871
TOTAL 739,861 815,156 1.102 739,861 815,156 1.102 0 0