Direct Broking question

[wbosher]

What on earth is going on here?? The Bid is higher than the Ask...

[Ponda]

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]

If I were to put in a sell order at this time would I get $2.86??

[777]

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]

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]

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]

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]

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]

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]

Thanks heaps for your advice. I'm still learning every step of the way.
Hope you all have a good day