leyland,
If a buyer or seller wants to trade more than $200,000 worth of shares it can be entered as a U for undisclosed.
It appears in market depth as a /U after the disclosed number on that line.
ie 3 buyers for 92000/u at $1 means 2 buyers wanting a total of 92k and the u could want any number above 200k.
Once the order falls below $200k the U is removed and the rest of the order becomes visible.
The U is often used to frighten the natives as there is no way ofknowing whether it's an order for $200k of stock or $10000k of stock. So if you want to prop a price up to enable you to sell out you could put a U on the bid side just below the current high. That encourages people, firstly to buy the stock, and secondly to bid above your U so they get filled. You then sell to them while keeping you finger on the trigger ready to pull your U if it looks like getting hit.
Although this does happen I doubt it happens as often as people think. Most U's at or near the trade are probably genuine, those a few ticks below the action may be dodgy.
Mostly though, it's in the eye of the beholder.
- Forums
- ASX - By Stock
- u/seller
VCR
ventracor limited
leyland,If a buyer or seller wants to trade more than $200,000...
-
- There are more pages in this discussion • 2 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add VCR (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
CCO
THE CALMER CO INTERNATIONAL LIMITED
Anthony Noble, MD & CEO
Anthony Noble
MD & CEO
Previous Video
Next Video
SPONSORED BY The Market Online