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wbosher
08-05-2009, 04:03 PM
What on earth is going on here?? The Bid is higher than the Ask...

:confused::confused::confused:

Ponda
08-05-2009, 05:42 PM
WB
There is a time at the end of trading (either 30 or 15 mins) where that happens. I see that the snapshop you have is 1643 HRS, which is in that time frame.
There is a proper name for it and someone more qualified can comment on it.
My understanding is that it is done to stop people manipulating the close price.
Hope that helps and I look forward to a more clearer answer also.
Have a good weekend

wbosher
08-05-2009, 06:00 PM
If I were to put in a sell order at this time would I get $2.86?? ;)

777
08-05-2009, 06:01 PM
I understood the time period is 1645 till 1700 and then the marrying up is done. It is similar to the 1 hour prior opening.

The 1643 surprises me.

777
08-05-2009, 06:07 PM
If I were to put in a sell order at this time would I get $2.86?? ;)

Not necessarily. What you need to do is follow the process over a few sessions. Basically the lowest seller's shares will be sold first and the highest buyer will be settled and so on. The price though will be at a level that leaves unsatisfied buyers and sellers. Look at the depth page now to see what that was. In fact it was 2.72.

Happens every close on every share.

Ponda
08-05-2009, 06:30 PM
777,

It looks like a trade of 10,000 went through also at 1643. There is a lot of action within that 60 second period.
There must be seem very astute timekeepers on the job today. Maybe those same timekeepers should go to the Bain High Court with their high tech watches.(whoops, differant thread).

But thanks for your explaination.

Ponda
25-05-2009, 10:58 AM
Selling "at market"
Can someone explain how this works.

If I had 10,000 shares to sell and I choose to sell them at market and there were the following purchasers:
5000 at 90 cents
2500 at 85 cents
3000 at 80 cents

If I wanted to sell 'at market' I thought that I would sell
5000 at 90
2500 at 85 and
2500 at 80 cents.

Is that not the case?

I currently have an 'at market' order in and I have sold the 5000 at 90cents and there is an order in for the remaining 5000 at 90 cents.

If I choose to follow the buyers down then I would be in effect placing aother two orders in which will then attract another 2 lots of brokerage.

Help!!! Thanks in advance for your replies

winner69
25-05-2009, 11:28 AM
prob trying to do the decent thing for you and waiting for the market to come to you at 90 cents ..... are you sure you put it in at market

If you want to sell ay all costs give them a ring

dragonz
25-05-2009, 12:01 PM
Selling "at market"
Can someone explain how this works.

If I had 10,000 shares to sell and I choose to sell them at market and there were the following purchasers:
5000 at 90 cents
2500 at 85 cents
3000 at 80 cents

If I wanted to sell 'at market' I thought that I would sell
5000 at 90
2500 at 85 and
2500 at 80 cents.

Is that not the case?

I currently have an 'at market' order in and I have sold the 5000 at 90cents and there is an order in for the remaining 5000 at 90 cents.

If I choose to follow the buyers down then I would be in effect placing aother two orders in which will then attract another 2 lots of brokerage.

Help!!! Thanks in advance for your replies

Hi Ponda

From my experiance when I put a "at market" sell order, it usually gets placed at the "last on market transaction", in your case 90 cents. If you had put a sell in @ 80cents then you would still get the 5000 at 90, 2500 at 85 and 2500 at 80 cents. Alternatively you can just edit your order down , in increments, at no extra cost, untill you have sold them all.

Go to My Order/Outstanding and completed then edit your remaining order as often as you like.

Ponda
25-05-2009, 12:26 PM
Thanks heaps for your advice. I'm still learning every step of the way.
Hope you all have a good day

dragonz
12-06-2009, 09:54 AM
OK this is probaly a stupid question but how can I trade an index? For example I want to buy S&P/ASX All Ords (Gold) [XGD]. Can I do this through direct broking. ?

money maker
12-06-2009, 10:05 AM
Having a look into Aussie ETF's would be a good start

wbosher
12-06-2009, 10:22 AM
Isn't investing in an ETF just giving your money to someone else to manage? If that's true, aren't you just lining their pocket?

Kinda takes the fun out of it. :(

dragonz
12-06-2009, 10:25 AM
Having a look into Aussie ETF's would be a good start

Thanks moneymaker

money maker
12-06-2009, 10:31 AM
Isn't investing in an ETF just giving your money to someone else to manage? If that's true, aren't you just lining their pocket?

Kinda takes the fun out of it. :(

Yes it is but not as much as anctively managed portfolio or mutual fund. In saying you do have to keep in mind that someone whether it be you, me, fund managers etc has to manage the portfolio/fund

wbosher
12-06-2009, 10:38 AM
In saying you do have to keep in mind that someone whether it be you, me, fund managers etc has to manage the portfolio/fund

I would much rather that it be me, at least that way if things go bad, you've got no one else to blame but yourself. I'd prefer to take responsibility for my own money rather than hand someone else the reins.

Of course that's just my personal opinion. :)

bob.not.a.builder
13-06-2009, 01:04 AM
Is is alright to sell a share before settlement? Like a single day between buy and sell? Im guessing its ok so long has the money is there in the bank.

Ponda
13-06-2009, 09:22 AM
Bob,
I use the National Bank Share and Bond Trading online service and I am often selling shares on the same day as I get my buy order filled.

So when you ask "Like a single day between buy and sell?" I am doing it minutes after the buy.
As soon as I see my order go through I am placing a sell order.
I use an odd number of shares, i,e 10,127 shares, so I am pretty confident that when a sale goes through at 10,127 it is probably mine. It gets a bit tricky when it is made up of 2 or 3 trades. but the completed trades show up on my 'completed trades' screen.

Hope that helps.
Have a good weekend

Ponda
13-06-2009, 11:44 AM
Bob,
Further thoughts on this: you say "Im guessing its ok so long has the money is there in the bank."
That only becomes an issue when you buy, not when you sell.