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31-05-2018, 04:47 PM
#9061
Member
now showing $10.95 as estimated match price.
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31-05-2018, 04:49 PM
#9062
Member
Hello,
Newbie here.
I thought I understood about the index fund requirement to purchase by today. I assumed that would be a positive thing for SP.
Can someone explain how this makes sense? Specifically the large sell orders at below $10? Are these just large existing holders that are using the large volume buying as an opportunity to get out without the price tanking as much as it otherwise would or what?
Attachment 9710
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31-05-2018, 04:54 PM
#9063
Originally Posted by 777
Well that was well advertised. Not.
I think I've seen somewhere a post from winner announcing that. What other advertisement do you need ?
Here we go: https://www.sharetrader.co.nz/showth...l=1#post716627
and here is the source: https://www.nzx.com/announcements/318737
Last edited by BlackPeter; 31-05-2018 at 04:59 PM.
----
"Prediction is very difficult, especially about the future" (Niels Bohr)
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31-05-2018, 04:58 PM
#9064
Member
now $10.87, which is where it was at 4:29pm, pretty much.
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31-05-2018, 05:01 PM
#9065
Member
and volume of 48.5m shares for $527 million done at 10.87.
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31-05-2018, 05:02 PM
#9066
Originally Posted by BlackPeter
Thanks. Seldom look at the NZX site.
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31-05-2018, 05:05 PM
#9067
Member
Mercury out of index, SP up
ATM in index, SP down
?
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31-05-2018, 05:07 PM
#9068
Member
Originally Posted by Blair
Hello,
Newbie here.
I thought I understood about the index fund requirement to purchase by today. I assumed that would be a positive thing for SP.
Can someone explain how this makes sense? Specifically the large sell orders at below $10? Are these just large existing holders that are using the large volume buying as an opportunity to get out without the price tanking as much as it otherwise would or what?
Attachment 9710
It's the end of day match process. orders left in or placed in it, all get matched off at the same rate if they cross. So the lower your offer, the more likely you are to get matched. But if there are more offers than bids, the average calculated rate used will be lower. As people see that though, they tend to place more buy orders, thinking, i'll buy them cheap down there. and that pushes the average price back up. all this time, the market is locked for trading.
it is explained in sec 6.9, page 30 onwards here: https://www.nzx.com/files/assets/arc...tions_june.pdf
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31-05-2018, 05:07 PM
#9069
Originally Posted by Muppett
Mercury out of index, SP up
ATM in index, SP down
?
Answer = the whales eat a lot of plankton.
Last edited by t.rexjr; 31-05-2018 at 05:13 PM.
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31-05-2018, 05:11 PM
#9070
Originally Posted by Muppett
Mercury out of index, SP up
ATM in index, SP down
?
Well, ATM is not really down - closing only one cent lower after trading 57,223,438 shares for $622,448,615. Who knows- maybe the efficient market theory is true after all ;
No, but seriously, given that the news was very old indeed (announcement of index re-balance happened a month or so ago) was it clear that the players do prepare, which they did.
Well done to all participants to trade 2/3 rds of a billion dollars worth of shares of one company without upsetting the market.
Last edited by BlackPeter; 31-05-2018 at 05:12 PM.
----
"Prediction is very difficult, especially about the future" (Niels Bohr)
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