The Market Went up Today... Better News from Australia

The market went up today, but my model is still on short heading into the FOMC announcement tomorrow. We are getting close to a turning point in the market though. Better financial news out of Australia for me today. There was an update about a very complicated real estate security (IYS) I invested in which is going to be wound up and the capital distributed. The final distribution will be 21 Australian cents a share more than previously offered ($A1.91 vs $A1.70). Should wind up in September. I am tempted to buy more but the risk control side of me says: "who knows what might happen?". The spread is enormous. The bid is $A1.24 and the offer $A1.72. It almost never trades. Maybe put in a bid at $A1.25 and see what happens? I can't see why anyone would sell at that price though. But why sell at the offer price either?