Tasmania 167 & 4 for 240 (Bailey 96*, Wade 40*) lead Queensland 107 (Neser 27, Labuschagne 21, Pyecroft 5-28) by 300 runs
Bailey moved to 96 not out at stumps, just a boundary away from a 24th first class century, while Wade continued his incredible form to cruise to 40 and put the Bulls to the sword.
Their partnership was set up by a nice half-century from opener Jordan Silk after Tasmania slipped to 2 for 22 in their second innings.
The second wicket was very unfortunate when a terrific straight drive led to yet another run out for Ben McDermott. He was run out backing up again as the ball came off Jack Wildermuth's hand in his follow through before going onto the stumps at the non-striker's end.
But Bailey and Wade showed their experience to tick the lead to 300, and they will add to it further on the third morning.
Earlier, Jackson Bird wrapped up the Bulls first innings taking the last two wickets to bowl the visitors out for just 107. Michael Neser was the first man to fall in the morning, top scoring for the innings with 27.