anyone think nasdaq is going to follow suit and go .002/.003 as well? I wouldn't be suprised at all... this is gojng to change nyse trading a ton!!! mnx
The specialist often "sweeps" my market orders of 5k-20k and i hate it. I started on nasdaq where what you see is what you get and its so ingrained in my brain that even after 5 months of trading NYSE i still forget and get pissed off at myself everyday when i do it......but on the other side quite often i get sweet fills do to someone esle doing a "sweeping".....i for one cannot wait for this "Sweeping" to go bye bye.....as it costs me more than it makes me...but for those that do make their money off of it i can see how these changes are gonna suck for the first while
This is a very good point....add on arca..remove from specialist using inet rash...free money for credit traders.... That wont be allowed to happen to long i dont think...lol
Yeah, I noticed from the p&l thread that you take large positions sometimes, which seems different from most who post there. My max position size is 5k, and that's usually accumulated through a few market orders of a few 1000 shares and some small working of limits. I rarely take that size anyway though, given the stocks I trade. I have no idea how a specialist would treat a 20k market order, but if it's coming through a DOT line I would bet he would be a real bastard. I can see how it'd be great for you. For me and other traders of my size, it's probably time to focus more on the charts.
Openings are predicated on a big block of stock at the specialist's disposal. When this block is parsed out to diff exchanges due to Hybrid regulations/NMS, where would he get the block to trade against?
Been said before, Hybrid is just another roadblock that allows the den of thieves to squeeze out some mils before it's all electronic and the IB auto progs (led by Goldman) take over.