NYSE, here we go again

Discussion in 'Order Execution' started by Rigel, Nov 15, 2002.

  1. Rigel


    Placed a limit order this morning to buy 600 sh
    Because of two years of hard work I had an idea where the bottom might be.
    Fifteen minutes later the price dropped beneath my offer by 2 pennies and printed about 10 times, which took about a minute and then back up it went. The whole time I'm checking for a fill and guess what? I never got one. The price is now up 5%.
    Here's the deal. The specialist wanted to sell it down to scare people out of their shares but he didn't want to bother with all that pesky price support underneath (mine and others) so he just ignored the orders.
    And so it goes with the NYSE.
  2. they have to fill you if it traded through your price on the nyse.what route did you use and what stock was it.what time was it? we can look and see if you got screwed.
  3. Rigel


    Don't want to get into specifics but I DID get screwed.
    I've got T&S, etc. and there is no doubt.
    My broker agrees with me and they're following up. You've got to watch these guys. That's why I prefer NASDAQ.
  4. Have a look at SSF ! ( www.nqlx.com )

    NQLX Launch Day Products

    ChevronTexaco CVX NYSE
    Ford Motor F NYSE
    General Electric GE NYSE
    General Motors GM NYSE
    Honeywell International HON NYSE
    International Business Machines IBM NYSE
    Exxon Mobil XOM NYSE

    Additional Products to be Listed

    American International Group AIG NYSE
    AOL Time Warner AOL NYSE
    American Express AXP NYSE
    Boeing BA NYSE
    Bank of America BAC NYSE
    Best Buy BBY NYSE
    Bristol-Myers Squibb BMY NYSE
    Citigroup C NYSE
    Cendant CD NYSE
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    Halliburton HAL NYSE
    Home Depot HD NYSE
    Johnson & Johnson JNJ NYSE
    JP Morgan Chase JPM NYSE
    Coca-Cola KO NYSE
    Merrill Lynch MER NYSE
    Philip Morris MO NYSE
    Merck MRK NYSE
    Micron Technology MU NYSE
    Morgan Stanley Dean Witter MWD NYSE
    Pepsico PEP NYSE
    Pfizer PFE NYSE
    Procter & Gamble PG NYSE
    SBC Communications SBC NYSE
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    Schlumberger SLB NYSE
    Texas Instruments TXN NYSE
    Verizon Communications VZ NYSE
    Wells Fargo WFC NYSE
    Wal-Mart Stores WMT NYSE
  5. thats a silly statement.like no one ever gets screwed on the naz.i trade nyse every day and can say i have never not got filled when i was due a fill.often i get a better price than i wanted.try that with naz.
  7. Tea


    Price improvement on the NYSE......
    They artificially increase the spread by 50% and then occasionally give you a 50% price improvement discount......such a deal!

    Until the SEC opens up the NYSE like they did the Nasdaq - I would either get used to using market orders or avoid NYSE stocks.
  8. If your order was in for awhile and he printed under your price you should've gotten the fill. If that's the case, they should call the floor, and they should give you the stock. But if you put in your order right before the fill below your price, then your out of luck, cause the specialist had the stock filled before your order.
  9. learn how to trade using the spread to your advantage.
  10. Rigel


    It's just the opposite and you know it.
    In thousands of NASDAQ trades not once have I never gotten filled.
    In about 50 NYSE trades I haven't gotten filled about 5 times (tradethroughs).
    Not to mention stepping away.
    You're a lying SOB.
    Typical NYSE honesty. :(
    How's this for a novel idea. Try making a fair market..

    ps.- I got my fill. :D
    #10     Nov 15, 2002