low trading volume continues

Discussion in 'Trading' started by silk, Sep 11, 2002.

  1. Most of you seem like you've been trading the NYSE for sometime, so you know that we get periods like this every couple of weeks, where the specialist seem to be able to get away with anything they want. The last week has been the longest period I'd ever seen, usually 2 days and we're back to normal rules. I actually tried to call SLK and complain, but they told me I needed to write a letter to the NYSE and then they would respond back via a letter. So there's nothing we can do, unless we conduct our own investigation into the rule breaking and present it. By the time we get a response back, the specialist can claim amnesia!!! Plus I can think of a million excuses they can use to cover up (i.e. buyer/seller went to the bathroom, changed their mind,etc...)

    So, we're stuck under the specialist rules, let's make a killing when the specialist can't control the market as much.
    #31     Sep 12, 2002
  2. Strange, all of Bright's traders are making easy money....
    #32     Sep 12, 2002
  3. Dustin


    Yep...I trade listed and haven't had this kind of success since before decimalization. Easy pickins if you know what you're doing.

    btw i'm not actually this cocky...just giving 777 a hard time for the constant Bright bashing.
    #33     Sep 12, 2002
  4. That is funny because the Bright traders I know are losing their asses the past month or so. So maybe not all the Bright traders are making a killing. I guess it all depends on which office you are in and how you are trading.
    #34     Sep 12, 2002
  5. does anyone have access to other exchanges ex. (chx,pse,bse,phlx) on their trading sysytem??? this could help out getting orders filled at fair prices......specialist are criminals .....i often use island and other ecns because the specialist doesn't fill orders.....
    #35     Sep 12, 2002
  6. I wish we had access to those other exchanges. We would be able to clear out the bids and offers that stand in our way. The specialist seem to use those other exhanges to get in our way, so we can't NX into trades. If anyone's firm gets access to those exchanges let me know, I would love to find out how to route orders through there. Take away another specialist weapon and make it more fair to us.
    #36     Sep 12, 2002
  7. Who do you trade with now?
    #37     Sep 12, 2002
  8. The clearing firm I use let's me hit some of those out of market quotes with BRUT, or some ofthe ECN's if they are posting. But then there are quotes that the NYSE is showing as out of market on AT Financial, but it's no where to be found on level II.
    #38     Sep 12, 2002
  9. You need a better clearing firm ...
    #39     Sep 12, 2002
  10. Do you know of people who hit the Boston or Phili exchanges with their order executions? If so, how do they route there order to those exchanges? Do the clearing firms have direct lines, or is there an ECN that maybe I'm overlooking?
    #40     Sep 12, 2002