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Topagent
06-07-2017, 05:32 PM
I was following a stock today and lets say it's current ask price was $1 normal current bids were .98c but then two bids showed up of 1.10 and 1.12 why would someone do this and what does it mean. Sorry i tried googling it but got lost in pointless crap. TYIA
JBmurc
06-07-2017, 07:37 PM
was this after the close of the market ?? as during the market those bids would have just hit the first on offer ....
Topagent
06-07-2017, 08:55 PM
Showed up about 5 mins before the close. Is it to jump the que to get shares or what sorry I have no idea.
blackcap
06-07-2017, 09:05 PM
Showed up about 5 mins before the close. Is it to jump the que to get shares or what sorry I have no idea.

Keep watching stocks that are liquid (ie many shares change hands daily) 15 mins to the close and you will see this is normal behaviour. It is to get priority in the que. The higher the price the more chance you stand of having your order filled... however you may have to pay a higher price. Sometimes people with small orders just put in a high price to guarantee a purchase... knowing that their order is small enough to swallowed by a seller thus still getting market price. Just watch what happens for a while and you will get the gist of things.
jonu
06-07-2017, 10:09 PM
Showed up about 5 mins before the close. Is it to jump the que to get shares or what sorry I have no idea.

The market freezes 15 mins before close and matches price against volume, same as before the market opens in the morning where you will see the same thing.
craic
09-07-2017, 08:30 AM
Trading SPK daily I am well aware of this last minute spike. On Thursday? I had a sell price of 390cps much of the day on two lots, one mine and one family. Right at the death a very distinct spike got me my price. I don't think it has anything to do with small orders - mine were $130G or there about and the total at the bottom of the graph showed big numbers. A lot has to do with financial markets and the movement and storage of cash by overseas people. I will be looking to buy back at 284 or even less on Monday after the AB's no win. No, it doesn't make sense to me, either. But as log as the dollars keep rolling in........................