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Online Share Trading

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STXDIV @ 180c p s this afternoon

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CHATTYCHAT
Super Contributor
Plse help, I'm dumbfounded that someone would buy 1400 @ 180c whilst the ruling price is 131c. Could it be that a broker advised his client? And why, I would also like to share (sic) in the prosperity.
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15 REPLIES 15
Not applicable
Yeah i noticed the blip too.. almost lost my pizza through my nasal cavity i got so excited (i bought at IPO and was hoping beyond hope for that fairy tale 40% jump hahaha!!!) Would love to know the background on that trade.
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Preston
Super Contributor
One of many reason is maybe to create a capital loss rather than giving that money to the reciever. 2. A typo error, remember i once put an order at 5c more than the price at which it was eventually bought at. 3. To boast the share price, cos ruling become 180 cent now. Hope this helps.
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SimonPB
Valued Contributor
preston, no make up for me - I be just fine all natral ..... And the trades after the 180c mean that 180c won't be the ruling. As to why, who knows. A madman perhaps? Finger error? At market order gone wrong?
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CHATTYCHAT
Super Contributor
I like the humour - glad you didn't actually dumped yourself into a sinus problem with that pizza going through you know where. :-) Yeah, this is not like RBX - if you got the IPO you would have been smiling.
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CHATTYCHAT
Super Contributor
Preston - interesting view about the intentional? strategy to create a potential loss to benefit against SARS. To be effective the guy has to sell intentionally @ lower. Though in this case I doubt the volume (1400) justified the cause. I'd like to think this strategy over - to me an intentional loss is worse than to be taxed on a gain. Except if a marginal rate lower than what it would have been would it not have been for the loss could be attained, and the resulting tax saving is more than the loss! I think you will find farmers doing that in a particular good year: buying in live stock @ high just before year end and valuing it @ standard to create a negative in turnover.
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SimonPB
Valued Contributor
CC, ya, basing a trade on a tax issue is just madness.
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Not applicable
Some poor punter probably bought @ market which just happened to trade when all the 133c trades had gone through, the next offer to sell being 180... really bad timing..OMO
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Not applicable
Never ming drinking and driving,drinking and trading is more hazardous.....
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john_1
Super Contributor
I don't see the point in talking a loss, unless that loss is replaced by tax free div's... buy on the LDT, sell next day. result to capital zero effect. taxable effect massive.
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Q2W
Super Contributor
If it was a typing error, wouldn't the best offer be matched. in that case around the 140c level?
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Picky
Regular Contributor
probably a piece of dirt that made the 3 look like a 8, wipe you screen often!!
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SimonPB
Valued Contributor
Q2W, well only if the best offer was at 140c. But the best offer must have been 180c at that moment. I saw 170c as the best offer a few times after this trade when the maerket maker was out of the market as they adjusted bids/offers.
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Preston
Super Contributor
Mr C. You are spot on ,on your reasons on marginal tax rate and opportunity tax saving gained by intentionally creating a loss.
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Preston
Super Contributor
More like a dummy trade with a desired effect. I will do the same . I rather make a capital loss and give back to the market than to give UNCLE BOB.
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CHATTYCHAT
Super Contributor
:-) Surely a very firm attitude. (I hate the b*&^%$d bitterly)
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