Second Life Trading: Where have all the buyers gone?
Over the past few days, spreads have widened drastically on both the VSTEX and ACE exchanges. Most of this change has come as buyers have disappeared. There are still plenty of sellers and this has driven down both the bid and the last prices, but the asking prices aren’t really moving much.
VSTEX had its third busiest day of the month yesterday, but still the movement appears to be based simply on the disappearance of buyers and not on any fundamental changes, negative news or even panic buying.
Based on this, it seems like this is a good time to step in and place orders for stocks that you are interested in that seem undervalued. I’ve placed a fair amount of orders and have been picking up stocks at prices I consider way below their market value. In one case, I turned around sold some of the shares at nearly twice the price I paid for them in less than 24 hours. I will gladly buy stocks and sell them the next day at twice the price as often as I can.