Sol Bargain act fast!!!!

[asylum]

Someone selling at 24056 huhhh????????

[#2]

everything is hey wire these last 10 min

[asylum]

yeah cannot make it out very strange i mean offers to buy at 260?

[#4]

what 10 min after close should be fine then

[samoa]

Which figures can be trusted and which must be ignored? My portfolio value correct? Maybe the other post regarding gambling need a closer look?

[asylum]

which post was that?

[samoa]

see grandwest or markets????? earlier to day

[kr_pto]

were you not looking during closing auction? prices always seem irrelevant during that time, as JSE switches the BID and OFFER order around (lowest to highest for BID and highest to lowest for OFFER).

[asylum]

what time does closing auction start is it 15 minutes before closing?

[JohnnyCash]

Nope Kr!pto, JSE not switching BIDs/OFFERs from high/low to low/high.
What happens is during last 10 minutes before 5 the market is closed for trading and everyone puts in their last or big bids and offers to be settled in an auction. the JSE software then matches the BIDs & OFFERs at a price where the most shares would trade. So if you wanted you can put in a very low OFFER or a verry high BID on SOL and because it is out of the trading range there is almost 0% chance of it matching at that level, but instead it matches together with all the @ market shares at the price with the most shares traded. So you will pay YOUR BID or lower and you will get your price or higher BUT it is not guaranteed (Seems to work better on the TOP40 shares than on others).

[YNWA]

Hombrés, if you interested....."Guidance Note Auction Functionality Example" available for download @ ....http://X-Files.4shared.com/...Adios.

[kr_pto]

hey JC. i agree with what you are saying, good explanation. what i meant is more that the order of display of these bids and offers appears reversed around during auction to what it is during day. you can see this quite clearly on the price streamer.
apparently first 5 minutes is for the bids and offers to be captured and next 5 is for the matching process to happen within JSE system (called the Price Determination Phase).
From JSE doc: "Each auction begins with a call phase. The market participants are able to enter orders as well as modify and delete their existing orders. Each participant firm may enter as many orders to the order book as it wishes."
"The auction price is the price with the maximum executable volume. Additionally the minimum surplus, the market pressure and, if necessary, the reference price are taken into account when establishing the auction price."