Is this Pennying??

Discussion in 'Trading' started by TonySanDiego, Jan 16, 2003.

  1. Someone add a bit more to my education.

    Lets say I am watching a stock on the NYSE, and it is going down to where I think it might find support.

    The spread is 5 @ 40.51 x 2 @ 40.95.

    And I decide to buy in (brave soul) and put in a bid of 40.55.

    If the specialist is thinking right along with me (and for once I am correct) can/will he jump in front of me with a bid of 40.56.

    And, will I ever see that he has done this. Seem like the next thing I know, the shown bid and offer never changes, but there are sales going off at higher prices.

    This is why I don't like the NYSE. Sales are going off at prices between the bid and offer, and the bid/ask numbers never change. How can we possibly get a handle on what is going on if we are kept in the dark like this.

    This specialist thing sure is a rigged game.

  2. rs7


  3. Since the opposite of rigged would be fair, then you'd be the one making all the money.

    Can't have than , can we?