You don't need a link, just try hitting a bid more than .05 from last print. Can't do it, thay have had it in effect for a while now. Just go market, and you'll get it. It sucks, but you get used to it. Bandit
Do you get it instantly or in normal specialist time? Don't you get it just as if you entered a limit order?
You get it just like a regular limit order (specialist time), when i first noticed this i thought it was the Software then had something wrong, then i figured it was the new rule. I took me a few days to get used to but i am allready ok with it.
No link needed. It is true. No NX more than .05 from last sale. as of 5/28/03. The oracle has spoken.
the NX rule and Liquidity Quote , are in my opinion, elegantly veiled ways of seizing traders edges. The only advantage I see to Liquidity Quote is that it is supposed to represent book, CROWD, and DEALER interest. You do not presently have a way of seeing crowd or dealer interest. Liquidity quote was effective 5/28 for the 28 DJIA stocks on the NYSE
On this I agree with the traderprofit. It seems everything the NYSE has done over the last few years was to take away the edge from my former style plus tape reading. I get pretty ticked off when I see the book acting in a way that indicates we are going in some direction. Then boom big print outside couple more fills and the whole reason to be in the move may just have been eliminated.
Never mind, I found it: http://apps.nyse.com/commdata/PubIn.../$FILE/Microsoft Word - Document in 03-21.pdf Take a look at rule 1000(ii) and 1000(v). BTW, I strongly recommend everyone that trades NYSE to read this article closely. nitro
After reading the article, my conclusion is that NX will be discontinued in the near future. I sincerely hope that I am wrong, but the NYSE is leaning towards it. shneed
Tula, If the Liq Quote shows interest in the crowd and from the dealer, you have more info on order flow and this puts you in a better position.