OZL - Oz Minerals

[alexc2005]

Anyone know the story behind that phat phinger trade?

OZL course of sales -->

10:24:57 AM 11.000 1,859 20,449.00
10:24:50 AM 10.000 600 6,000.00
10:24:48 AM 1.700 1 1.70
10:24:48 AM 1.700 951 1,616.70
10:24:48 AM 1.700 262 445.40
10:24:47 AM 1.700 3 5.10
10:24:47 AM 1.700 147 249.90
10:24:47 AM 1.700 41 69.70
10:24:47 AM 1.700 16 27.20
10:24:47 AM 1.700 1,006 1,710.20
10:24:38 AM 1.700 1,678 2,852.60
10:24:37 AM 1.700 1,255 2,133.50
10:24:28 AM 1.585 517 819.45
10:24:28 AM 1.590 96 152.64
10:24:28 AM 1.590 489 777.51
10:24:27 AM 1.590 517 822.03
10:24:27 AM 1.590 65 103.35
10:24:18 AM 1.560 1,121 1,748.76
10:24:18 AM 1.560 970 1,513.20
10:24:17 AM 1.560 1,599 2,494.44
10:24:02 AM 1.545 183,478 283,473.51 XT
10:24:02 AM 11.630 308 3,582.04

Someone just toasted a lot of notes!

Ya think he/she just lost a job?

Talk about a bad hair day!!!

Wow, i saw that happen and **** my pants.

Suddenly it dropped 90%!! haha

So was that a sell off where he has put the decimal place in the wrong place?

Man, imagine if you were quick enough to buy some at those prices!! Instant 500% gain much?

Surely that cant be right?

 

[Mr Z]

Surely that cant be right?

Yeah I think is was right, it looks like it was a cross trade and I guess someone just lost their job!

 

[alexc2005]

Yeah I think is was right, it looks like it was a cross trade and I guess someone just lost their job!

thats absolutely crazy.

Someone definitely lost their job.

And someone is VERY happy with themselves right now!!

 

[Mr Z]

Wow, i saw that happen and **** my pants.

What broker where you using?

 

[alexc2005]

What broker where you using?

Just westpac online?

 

[pixel]

Yeah I think is was right, it looks like it was a cross trade and I guess someone just lost their job!

Wouldn't be the first time that an obvious error was corrected after Market.
The simple explanation would be they mistyped the price, missing a One in front. $11.54 makes much more sense than $1.54.

 

[alexc2005]

Wouldn't be the first time that an obvious error was corrected after Market.
The simple explanation would be they mistyped the price, missing a One in front. $11.54 makes much more sense than $1.54.

yep, but does that mean that someone bought them at 1.54?

There was a hell of alot of volume for the price to last 30seconds..

 

[Mr Z]

Wouldn't be the first time that an obvious error was corrected after Market.
The simple explanation would be they mistyped the price, missing a One in front. $11.54 makes much more sense than $1.54.

Yes that is obvious, hence the term "phat phinger trade" but look at the order flow. It is not simply a matter of correcting one bad trade. People bought at low prices quite legitimately, it will be interesting to see if it is 'fixed'. All I know is that if it where me I'd have to swallow it!

 

[Mr Z]

Just westpac online?

OK thanks. I checked the ASX they have the same number as well so it is not just my broker with an internal stuff up.

 

[alexc2005]

OK thanks. I checked the ASX they have the same number as well so it is not just my broker with an internal stuff up.

yeah i thought that might be it. A glitch.

If i had clicked buy and put in a buy, would i have had any chance of getting any?

not really sure how it works when something like this happens??

 

[pixel]

yeah i thought that might be it. A glitch.

If i had clicked buy and put in a buy, would i have had any chance of getting any?

not really sure how it works when something like this happens??

It's already been cancelled and corrections put through.
Anybody that might have panicked and sold - or tried to milk the error and snuck a buy order in - would simply be notified that their order had been reversed.

 

[Mr Z]

If i had clicked buy and put in a buy, would i have had any chance of getting any?

Yes... someone got filled! Those small orders following the drop where no doubt @ limit $11.xx + the entire bid queue got taken out in one fell swoop! There is a lot too undo there! Lots of stink bids got hit!

 

[Mr Z]

It's already been cancelled and corrections put through.
Anybody that might have panicked and sold - or tried to milk the error and snuck a buy order in - would simply be notified that their order had been reversed.

Yeah the 'low' has disappeared!

Wouldn't that bum you out if you thought you had a win

 

[Mr Z]

Wouldn't you think that it warrants a small explanatory announcement to market? After the last week they probably gave a few investors coronaries with that little SNAFU.... it gave me a start

Just saying, it would be polite

They could also offer free pants dry cleaning That would be considerate!

 

[Mr Z]

OZ Minerals trades under review after 87pc crash: ASX

 

[vkdirector]

 

[Mr Z]

Yet not on the ASX site? link... or my broker... ?!

 

[Sirloin Steak]

Nothing on OZL since August?
Damn,

On the last posts though I remember when a rookie at one of the broking houses (If I remember right it started with a b and rhymed with bell) made a big stuff up on BHP and momentarily dragged the whole index down before it was corrected LMAO.

 

[pixel]

Nothing on OZL since August?
Damn,

On the last posts though I remember when a rookie at one of the broking houses (If I remember right it started with a b and rhymed with bell) made a big stuff up on BHP and momentarily dragged the whole index down before it was corrected LMAO.

That can no longer happen quite so easily; I've been adised that ASIC has banned the use of "At Market" Orders. Only "Limit" Orders will be accepted, and they must be within a narrow margin either side of the last executed trade.
Why couldn't they introduce that rulw after the first major fiasco when AMP floated?

 

[tinhat]

Oz Minerals will be bidding at auction for a Romanian open pit copper mine. The auction is in Bucharest and is scheduled for monday 26 March 2012. Mine producing 11,000 tonnes per year (2008 figure from wikipedia).

http://en.wikipedia.org/wiki/Roşia_Poieni_copper_mine