Time to look for another way to make a living. This is ridiculous, they are cutting out so much volume and liquidity by doing this. Its been fun guys.
I just hope they don't start levying fines retroactive from the date of this action letter. Any comments from the pro firms?
I never use them but I empathize. After they got rid of boxes way back in the day I said I would never get dependant on a loophole. Plenty of money to be made without them though that is a fact.
Even if you don't use them it still effects the action of a stock a great deal. Most of my trades were dependent on crossing the market on ECN's which so far this morning has been damn near impossible. Can someone try and explain why the SEC would do this? Just trying to phase out DT's, try and force a Bull Market? I udnerstand the skirting of the short sale rule, but its not like DT's kill the freakn stock, we just go along for the ride. The only thing I see it doing is killing pro firms, DT's, liquidity and volume.
I bet you someone from the ssf exchanges made the SEC aware of this loophole and alerted them to it. Suddenly the SSF's look golden since not only do they not have the PDT rule but no uptick rule as well.
Not arguing, just sharing. When I trade Nasdaq you can always get short pretty much whenever you want with ARCA, downtick and all. For listed I know it must suck much more, but you can get short shit just not for pure daytrading type moves got to have a little longer term prospect now probably.
I talked to some traders that are at Barkley Trading and they seem to be using bullets this morning...What gives m
How are hege funds going to adapt? A fund like SAC that derives over 90% on daytrading is going to be severely impacted. This will undoubtedly have an affect on Program Trading, which will have an affect on the ebb and flow of the S&P futures.
No I know what you are saying. I can still get short, but I haven't been able to get anything above 1500 shares so far and it has been much harder to get. With Bullets I can cross the market .10 and watch the idiots pick me off when the stock is going to move .50. If things stay like this....its going to be much harder for those easy picks...and the stock will simply not move the same. I hear ya though...we will figure it out. Somehow......