SBR to auction 30 day 100 point bonds. Your help is needed!

[Boner_18]

Half the 93s just got wiped out...

[Boner_18]

Didnt see newguy... Now all the 93s are wiped.

[yisman]

I don't see what bidding low accomplishes. Just bid 10 at 99 and you'll get the lowest price possible.

[shari91]

80 at 94

[Boner_18]

Ok well you caught me. I guess bidding low is b/c there is a chance, however small, that some fall to the lower price. It puts me in the best position to gain more if I am wrong. Its cost free to bid, why not bid low and raise as the market does?


That said, retract my earlier bid (or dont it wont be filled anyhow):

11 at 96 please.

[Boner_18]

80 at 94

There is already 444 @ 95 Shari

[yisman]

Ok well you caught me. I guess bidding low is b/c there is a chance, however small, that some fall to the lower price. It puts me in the best position to gain more if I am wrong. Its cost free to bid, why not bid low and raise as the market does?


That said, retract my earlier bid (or dont it wont be filled anyhow):

11 at 96 please.

This is ebay style bidding. If you bid at 99 and your order can be filled at 95, it'll be filled at 95. You bid what you're willing to pay.

[Boner_18]

Its Dutch auction style bidding (like a bond auction). If you bid 99 that is what you pay, not 95 or 93 or any other price.

First all the 99s are filled, then the remainder of bonds go to fill the 98s, remainder to the 97s, etc. You are competing against other bidders to get your order filled but still want to pay as low as possible.

[Boner_18]

Fishead WILL pay 99 for 1 bond (unless someone bids 500 at 100).

[Poker_Beast]

I will take 70 shared at 95

[shari91]

There is already 444 @ 95 Shari

ty Sir... must've missed something when I was scanning

70 at 97

[ZetaPsi808]

this is confusing. how do we know what the cheapest price to buy the bond is? i see guys buying at 94. 95, 97 now

[yisman]

Zeta, bid 101 and you're golden.

[FourLengthsClear]

I bid as follows

9 @ 98
9 @ 99

[shari91]

50 at 98

[Cabo]

50 @ 97

[hels]

I am bidding 17 at 99.

I think it'll be impossible to get them at any less.

[Fishhead]

Where and how are these junk bonds purchased????

[yisman]

Fishhead, try reading the first post.

[byronbb]

So whats the point of this? To tie up posters points for 30 days so they don't order anything?

[a4u2fear]

So whats the point of this? To tie up posters points for 30 days so they don't order anything?

Stupid

[Poker_Beast]

70 at 98

[Boner_18]

Looks like the 95s are almost wiped out..