Zinifex my first CHOICE
February 24th, 2008 | by winsonlee |
As I mention in my previous article that the ASX Public Sharemarket Game started on the 21 February 2008. Decided to make this game slightly more interesting. Instead of buying and selling the share at market price, I would want to buy it at a lower price and sell it at a higher price. This means that there are times that I will not able to buy and sell the share at the price that i want. The first share I thought of buying was Zinifex. On 20 Feb, ASX 200 index was at 5,496.5. It went up to 5,583.4 on 21 Feb. I feel that it is very likely that ASX 200 will drop on Friday which was the day I wanted to purchase a lot of Zinifex. The bidding buy price that I put for Zinifex was $9.00 which was the closing price on 20 Feb. Zinifex close at $9.46 on 21 Feb and I plan to buy the next day at $9.00. True enough that ASX 200 went down by 23.5 point to 5,559.9 on friday and I would thought that Zinifex share price will go down as well so that I will be able to grab it at $9.00. Guess Zinifax close at what price on friday evening ? Zinifax went 7.29% to $10.15. This is one of the reason that if you place your bid for the buying price lower then the market rate, you might not be able to get it end of the day. But if the share goes down, then you are getting something cheaper then it suppose to be.
