No more bullets per sec

Discussion in 'Order Execution' started by Turlo, Nov 18, 2003.

  1. Sorry I was being too general with nasdaq you can short with an uptick or with a higher bid
    #51     Nov 18, 2003
  2. md2952


    Thanks raisan
    #52     Nov 18, 2003
  3. md2952


    When the market was on a tear earlier this year i used to sing GIMME ME BACK MY BULLETS in the office,sniff sniff
    #53     Nov 18, 2003
  4. I'm not sure this will work as intended, if the intent was to outlaw market declines.

    This regulation will force shorts to pound failed highs rather than to chase downticks and front-run size sellers. This is exactly how one triggers distributions by waiting for the market to turn up and pound the failed high.

    Distributions are not triggered by chasing a falling market. Jumping on a downtick (if done by enough people) causes a short-term overbought condition and actually brings the market back up.
    #54     Nov 18, 2003
  5. def

    def Sponsor

    I don't think this interpretation has anything to do with trying to keep the markets up. It simply has to do with having all participants play on a level playing field. You all know bullets were a loophole and shouldn't be shocked at the SEC's interpretation. While I believe uptick rules should be abolished, I more firmly believe in a level playing field for all participants.
    #55     Nov 18, 2003
  6. Tea


    Its clear to me that the NYSE specialists ordered their lackey, SEC Chairman Donaldson to eliminate bullets etc.

    With scrutiny as high as it is the specialists can't make the big bucks by front running (for now anyway), so they came up with a new revenue source. That new source is listed day-traders - the very guys who were sticking up for the NYSE specialist system on these boards the last couple of months (that ought to teach you - sucker!).

    The specialists obviously are not bothered by the uptick shorting rule. They will use this uneven playing field to pry additional profits from listed day-traders selling short.

    "Ouch.....thank you Mr. specialist, may I have another!"

    :D :D
    #56     Nov 18, 2003
  7. i thought the specialist could only buy on a downtick and sell on an uptick:confused: :confused: :confused:
    #57     Nov 18, 2003
  8. btommy


    What do you mean by leveling playing field ? The whole stockmarket is a loophole It is one of the very few the places on the earth where you can make extraordinary amount of money with relatively small effort and with zero production. It is a very serious war for loot. Do not regulate it. If it was regulated to perfection it would be shut down.
    Make it fair to anyone: borrow stock as much as available, sell short as much as u can, and cover at the right price … if YOU can. I’d love it. The better player wins not the one who is closer to the fire. Is not it funny; a NYSE seat instantly sold higher on 11/18 .
    This is just an other effort to eliminate the growing number of constantly sophisticating “nonmembers” from the easybuck club.
    Thank You F…n Much. Ill fight on and will win again no matter what.
    #58     Nov 18, 2003
  9. agora


    That is the trader's unsung motto? So now that bullets are gone it'll create a new wrinkle and a new opportunity somewhere else. The question is where? And how do we exploit it.

    Any ideas?

    I suppose ETF's might get more of a play as well naz. Who knows. Yeah, market short is not the only strategy available but it certainly was easy pickin's.
    #59     Nov 18, 2003
  10. stop bitching about it on a message board and write your representative and senators. we can sit back and enjoy things like the uptick rule, decimals, "pattern day trading," and now no married puts, or do something about it and make yourself heard. the majority of these guys don't know that this crap from the SEC does nothing to help the individual investor, and rely on public feedback to make their moves.
    #60     Nov 18, 2003