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Please Explain Simon

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Not applicable
Once in a while one of those juicy chances just drop in your lap. This morning while logging on I had a look at SOLSBV where someone had put on 50000 of the critters @ 30 cents where they are valued at around 35 cents. I took a chance and matched the bid @ 30. Low and behold I was the only match when warrants opened and I was now the pround owner of ONE SOLSBV. however on the timed sales it shows 50000 were sold and there is no reflection of only one warrant having been sold.I contacted the helpdesk and a lady proceeded to tell me that I had indeed only purchased 1 share, she could not tell me why did it not reflect on the timed sales as such. In conclusion I paid R60.00 for 1 warrant of 30 cents!!!!! PS sorry to he who left the sale on @ 30 cents.
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24 REPLIES 24
SimonPB
Valued Contributor
well the chap who got the balance has sold 50k less 1. But I also can not see the 1 being bought. I will dig around.
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Not applicable
Could a cap not be placed on trades that are requested for values that are greater than the trade cost not to be executed. I know there are still some who do such trades intentionally but cases such as mine could be avoided. You have BOUGHT 1 SOLSBV @ 30 Cost including all fees: R69.75
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SimonPB
Valued Contributor
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Not applicable
If you were the only bid for 50,000 warrants @ 30, and you only got the one, this sounds very fishy especially in view of the fact that it is shown that 50,000 went through at 30c at 9.10. Is this manipulation of the worst kind? I would be hopping mad and I think some investigation and answers should be forthcoming. Then we could all learn how this happened if it was somehow legitimate. In my opinion SB should reverse that sale with attendant costs. Even better from a moral point of view is to give you the 50,000 @ 30c and cancel the other sale. Sure they can do that. Having not done well with warrants this is perhaps the cue to just leave them be as I would hate to be in this position. Slash - I hope you get either an answer as to why or some resolution on the matter.
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SimonPB
Valued Contributor
Zircs, we can't cancel a legit trade and certainly we can not cancel the other persons buy and there is no manipulation here. How the other clients got them was most likely by placing an @market buy order which was risky as the 30c could have cancelled and the @market would then have taken the next level out.
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Not applicable
Simon the only other bid was the one currently on at 27 for 14000. kept a constant eye on the price streamer to see if anyone would beat me to it but in my view I was the first. I initially entered a bid of 30000 and then a second of 20000 after realising the post was 50000 (little eagerness on my part). My reference is 1994444 as you can see they are still there.
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SimonPB
Valued Contributor
slash, well an order got ahead of you. Whether you saw it or not, it did. What I don't get is the 1 sold to you.
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Not applicable
Simon - Doesn't make much sense to me. Hope you will refund the R69.75 as something strange seems to have happened. Or at the very least R69.45.
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SimonPB
Valued Contributor
ZIRCS, nothing untoward happened - somebody got ahead of him in the Q.
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john_1
Super Contributor
The issuer took it it out, and gave you 1 so that they could not be questioned about it, as it then legitamizes their sneeky behaviour. thats my guess anyway.
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john_1
Super Contributor
Ten bucks says if you go to the JSE with the trade it will show standard bank bought them.
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john_1
Super Contributor
Looks like I might lose my 10 bucks. SFM first trade was 34c
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Not applicable
For Sale: 1 x SOLSBV @ R69.76, comes with an official YOU GOT SNAKED certificate.
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john_1
Super Contributor
just buy more as there is no further comms if you buy today.
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Not applicable
SBK John said I should now give me 100 000 @ 35
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As Simon said - why was Slash sold one only. If someone did get in first in the Q - what's with the 1? Is it possible that there would have been 50,001 shares on offer. Possible. But likely? Then someone got the 50,000 and Slash was left with his very expensive one.
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Not applicable
SFM where do I go from here it is the principle of the matter that I am questioning. There were not 50001 up for offer. Your software does not even show my trade in the last 30 trades. I'm not about to roll over and go away.
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Not applicable
You could probably check with the JSE, If it was SBK that snapped the 50000, you've got a leg to stand on (it being their system you're using 'n all)... but, If it was me, not so much.
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SimonPB
Valued Contributor
slash, that 9.10 trade reflected 50,000 and not 49,999 and 1 because it is an opening auction trade and so all trades are bulked together (same as closing auction). Further we can see the client selling their 49,999 at 34c a few minutes later, so it wasn't SB who got the 49,999 because they wouldn't have sold them.
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