Adapting to the Hybrid

Discussion in 'Order Execution' started by JGTrader, Dec 10, 2006.

  1. kwancy

    kwancy

    I agree very much
     
    #41     Dec 14, 2006
  2. hefty1

    hefty1

    Several of the stocks I play went hybrid yesterday and today. They are all thinly traded. All I have to say is these things will rip your head off if you are not careful. A mis-timed market order will print you a point or more above the last price. Been seeing it all morning long.

    Seems like this hybrid will add to volatility. LAB and VDM are cheap right now. I'm suspecting that in conjunction w/ all their layoffs this will be very good for them. Think there is any truth to this mickey mouse analysis?
     
    #42     Dec 14, 2006
  3. there seems to be some ecn crosses out there if your quick enough. yesterday Right before the close ---in MO....someone swipe sold from .71 to .46 and there were isld's out there to be hit.
     
    #43     Dec 14, 2006
  4. money was falling from the sky this morning...but apparantly nyse was having some issues on the floor, my quotes, fills, orders were just all locked up...
    if not .... it was $$$ time....
    was anyone else having these problems?? The delays felt like the specialist was back on some of my stocks.... slowing the shit down, hopefully it was just some floor issue, and not the specialists finidng a way to get back into the game... cause i want to trade pure hybrid!!!
     
    #44     Dec 14, 2006
  5. JGTrader

    JGTrader

    My quotes were slow on CAL but I thought it was our system. Was trying to NX at .21 and the box was showing .10.
     
    #45     Dec 14, 2006
  6. what is truely aggravating is CSE
    can still leave their stale bullshit out there
     
    #46     Dec 14, 2006
  7. mnx

    mnx

    nyse had some major issues this morning... I had dot orders crossing the market by 10 cents that wouldn't fill (these are on hybrid stocks too...) I'd hit cancel after waiting a few minutes and then I'd have to wait a couple minutes for a cancel... then I'd just route elsewhere...

    - mnx
     
    #47     Dec 14, 2006
  8. I reaize those stocks went hybrid, but they still retain the specialist nonsense. There is no need for a human facilitator in a electronic market. To have any human being provide a fair and orderly market is a joke.
     
    #48     Dec 14, 2006
  9. One thing everyone seems to agree on here, is that market orders are not a great idea under hybrid market...
     
    #49     Dec 14, 2006
  10. ig0r

    ig0r

    Alright guys, listen carefully.

    The reason why market orders work on nasdaq is because of black-box dealers. They're not nearly as prevalent on NYS, and there's no hidden orders (except for specialist algo and floor brokers, who KNOW that they're the only liquidity other than the book and WILL take advantage of that). In essence, what you see is what you get (and even less sometimes).

    If you want to take liquidity, you need to use limit orders until theres more liquidity in the book.
     
    #50     Dec 14, 2006