Easy money - or just a website error?

[Kipp]

There is currently a very strange occurence in the market. I 'm not sure if it is just a Glitch in the Avcol stockbroking software (which I use) but at the moment for ACX there is an outstanding BUY order for 10000 shares @.07 and at THE SAME TIME there is a an outstanding SELL order of 100 000 shares at 0.053.

So what I don't understand is why some of the sell order isn't partially filled at 0.053, and the total shares avail for sale reduced to 90 000?

*Am I right in thinking that I can buy 10 000 shares at .053 and on-sell instantly at 0.07? Thus netting a small (but risk-free) little profit for myself?
I'll try and post a screen shot tomorrow at work.

Please let me know what this means. This may be very easy to explain...

 

[captain black]

Re: Easy money- or just a website error?

check the decimal point.
I see a sell order at 0.53

 

[nizar]

Re: Easy money- or just a website error?

There is currently a very strange occurence in the market. I 'm not sure if it is just a Glitch in the Avcol stockbroking software (which I use) but at the moment for ACX there is an outstanding BUY order for 10000 shares @.07 and at THE SAME TIME there is a an outstanding SELL order of 100 000 shares at 0.053.

So what I don't understand is why some of the sell order isn't partially filled at 0.053, and the total shares avail for sale reduced to 90 000?

*Am I right in thinking that I can buy 10 000 shares at .053 and on-sell instantly at 0.07? Thus netting a small (but risk-free) little profit for myself?
I'll try and post a screen shot tomorrow at work.

Please let me know what this means. This may be very easy to explain...

I notice this all the time when the market is closed ie. outside 10am-4pm...

sometimes even the buying price is higher than the selling price!

i dont know how to explain this though

 

[michael_selway]

Re: Easy money- or just a website error?

I notice this all the time when the market is closed ie. outside 10am-4pm...

sometimes even the buying price is higher than the selling price!

i dont know how to explain this though

Yeah its closed orders not accepted anyway, some people take their bids/asks off the market depth, some dont etc

However when market closes, I believe there is a private auction with brokers?

 

[captain black]

Re: Easy money- or just a website error?

ermm......

Buy order is 10000 @ 0.07
Sell order is 150000@ 0.53

....no error... just a very wide spread

 

[Kipp]

Re: Easy money- or just a website error?

I'm such a spaz- you're both spot on- it is 53c. grrr..... Anywhow, I appreciate the repiles.

 

[bullmarket]

Re: Easy money- or just a website error?

Hi Kipp

I'm such a spaz- you're both spot on- it is 53c. grrr..... Anywhow, I appreciate the repiles.

Don't feel too bad about it I once did a similar thing after the new half cent increments came in for stocks in the 50c-200c range.

I submitted a buy order for $1.05 instead of $1.005 and ended up getting my order filled at around $1.025 average and wondered what the hell was going on before the penny dropped

Luckily not too much damage was done

cheers

bullmarket