PSD what happened 22/12?

[DRUGGIST]

Wednesday 22/12 I watched Psivida PSD open at $1.41 after a trading halt and a gap of 6c overnight.
Great announcement that a top 5 Pharma was going to evaluate their drug delivery system.
Just before end of halt, someone puts 55000 shares up at 20c below offer price.
Drops like a stone and ends the day down 12c

Now either something very fishy happened or I don't know what.

Is the market so dishonest or am I missing the point?

I hold PSD and continue to for the medium term

Thanks,
Druggist

238 - 248 4:05:18 pm 126 39,354 1 $49,586 11
229 - 237 3:59:34 pm 127 64,700 1 $82,169 9
221 - 228 3:54:51 pm 128 85,242 1 $109,110 8
216 - 220 3:53:58 pm 129 27,500 1 $35,475 5
203 - 215 3:51:15 pm 130 72,781 1 $94,615 13
197 - 202 3:22:25 pm 131 45,738 1 $59,917 6
187 - 196 3:11:48 pm 132 51,000 1 $67,320 10
186 2:59:40 pm 131 5,000 1 $6,550 1
185 2:59:38 pm 132 1,000 1 $1,320 1
178 - 184 2:58:58 pm 131 35,764 1 $46,851 7
176 - 177 2:44:59 pm 132 6,000 1 $7,920 2
166 - 175 2:44:15 pm 131 26,738 1 $35,027 10
146 - 165 2:42:19 pm 130 60,966 1 $79,256 20
143 - 145 2:32:32 pm 131 20,035 1 $26,246 3
142 2:30:34 pm 132 10,000 1 $13,200 1
130 - 141 2:30:18 pm 131 53,965 1 $70,694 12
123 - 129 2:15:54 pm 132 21,127 1 $27,888 7
120 - 122 2:15:47 pm 133 4,883 1 $6,494 3
118 - 119 2:02:38 pm 134 6,000 1 $8,040 2
113 - 117 1:39:22 pm 135 23,000 2 $31,050 5
112 1:39:12 pm 133 96,500 1 $128,345 1
108 - 111 1:39:12 pm 134 28,500 1 $38,190 4
97 - 107 1:32:51 pm 135 43,000 2 $58,050 11
96 1:12:07 pm 133 20,000 1 $26,600 1
95 1:11:24 pm 134 10,000 1 $13,400 1
93 - 94 1:10:40 pm 135 8,150 1 $11,003 2
89 - 92 1:04:58 pm 136 30,900 1 $42,024 4
88 1:04:35 pm 137 35,000 1 $47,950 1
74 - 87 1:02:49 pm 136 118,100 1 $160,616 14
73 12:58:14 pm 135 39,524 1 $53,357 1
70 - 72 12:58:11 pm 136 36,000 1 $48,960 3
65 - 69 12:57:45 pm 135 44,735 1 $60,392 5
64 12:56:52 pm 134 20,000 1 $26,800 1
43 - 63 12:56:24 pm 133 209,261 2 $278,317 21
42 12:54:08 pm 135 6,350 1 $8,573 1
34 - 41 12:54:08 pm 136 99,753 1 $135,664 8
30 - 33 12:53:47 pm 137 24,800 2 $33,976 4
28 - 29 12:53:19 pm 139 26,000 1 $36,140 2
24 - 27 12:53:12 pm 140 10,750 1 $15,050 4
2 - 23 12:53:01 pm 141 156,000 6 $219,960 22
1 7:11:00 am 135 64,828 $87,518 1

 

[tech/a]

Simply a case of the announcement not being reflected as improving the companies bottom line.

Common to see a stock rise on expectation of an announcement only to get hammered once it is released.

The 55K sell order was simple placed at the head of the que by placing the sell at 20C lower than bid.

tech

 

[DRUGGIST]

Simply a case of the announcement not being reflected as improving the companies bottom line.

Common to see a stock rise on expectation of an announcement only to get hammered once it is released.

The 55K sell order was simple placed at the head of the que by placing the sell at 20C lower than bid.

tech

Wouldn't it have gone through at head of queue at 1c under price. It seems weird to sacrifice $11000 to be head of queue.

Druggist

 

[tech/a]

Hahaha..
No thats not how it works.

If buy is $1.40 and I place my sell at $1.30 then when the clearing goes through I ll be done at $1.40.

Even if through the day The best bid is $1.40 and I sell at $1.30 ill be filled at $1.40.

Dont worry he didnt sacrifice $11000 and someone didnt get an early Xmas present.

tech

 

[DRUGGIST]

Learning all the time.

Thanks for your time and patience.

Happy Christmas

Druggist

:santa:

 

[markrmau]

Just to clarify, at open/close/lifting of suspension, the following is calulated:

http://www.asx.com.au/markets/l4/OpenClose_AM4.shtm

Tech, is the same principle used if a bid/offer comes through simultaneously to seats with an overlap (during normal trading)?

As far as bad announcements go, have a look at cmq. Obviously an upcoming announcement was leaked to the market, and it was expected to be good news ....

... (cmq $.5 tomorrow???)

 

[tech/a]

Yes.
Often happens if you instruct your broker to sell at market particularly in a fast mover you may sell or buy at 2 ticks higher or lower.But be filled at the price you want if its ther best possible at the time.

tech

 

[DRUGGIST]

Is anyone else watching this stock. It seems to have a great product in biosilicon and more patents coming and is about to be listed on the NASDAQ.

I hold and hope.

 

[GreatPig]

Is anyone else watching this stock.

I hold some and am watching the price, but I wouldn't have a clue what they're up to .

GP