for the past two weeks I have noticed that huge stacked sizes will shift from bid to offer on many NYSE stocks. For example, CVX and other stocks on New York, there would be relatively huge sizes stacked (3 or 4, right after one another) on offer, then they all walk, and appear on the bid. They would repeatedly do this and on the chart is will have a zig-zag range motion... I guess they show the huge sizes to make the stock look weak and at the same time buy some stocks for themselves, then pulls the size, appear on the bid, prices go up, and they make a profit. Anyone else noticing this?
Absolutely, but this is what I like to see for my type of scalping, and I don't utilize Level II, but I have seen it. This is why I have been discouraged from learning L2, as I don't believe it to provide me better entries, but I still try to learn from it.
this appears in the openbook and when they are done, the chart will look like it's a zig zag. How does one profit from this bullshit? If there are sizes on the bid, you go short right? (sell high) as they will ikely appear on the offer, making the price in the next few seconds lower, and vice versa?
I hardly use level 2 as well as in the openbook, you can see where the market shorts with huge sizes are at what price levels, but level two combined with the open book is nice as sometimes specialists would show a difference size (sometimes twice the size) in the openbook to collect shares for himself...
is it a blackbox program? I tried to look at time and quotes and got a little confused, has the time interval in between been the same?
its called manipulation,, more risk more money,, build a position, throw up supports to compliment it,, pull when about to get hit,, or even better,, put up supports,, and pull as people once felt safe with them now panic,, in your favour,, i keep saying i want to read the tape more,, but if you can weed out the bs on level 2, well lets just say i rely on the level 2 strictly. im no pro,, just a newb, but i see what these guys do,, and power to them,, ching ching.
I actually have the option of viewing Open book on my platform Sterling. I don't know if it is enabled or not, I will check it out tomorrow.
it's true, these sizes will never get hit/taken and once they are on the upper price level (1st, second), they get pulled away.
it has to be, there is no way someone can manually put in some of the orders I see as fast as they get in there and then pull them all and then line up the other side. it has to be a program.