NYSE only. I think there are more inefficiencies with the specialists system. I'm a tape reader, it's a heck or a lot easier to figure out what is going on with 1 specialist than 20 market makers and black box programs. Just my thought. rjv
i prefer AMEX for long term and position trades. Most 10 baggers are from AMEX day trading small blocks on NAS and large blocks on NY. reason: at least it seems my broker does not place my large block on level 2 on NAS, sometimes, they won't even trade my shares so they route my orders differently based on size. NY is fine as long as there are enough volume. for little volume stocks, NY, AMEX will kill any day trader's profit.
I trade both even though I think you need different approaches. Dealing with specialists who want to f*ck you over constantly definitely calls for a diff approach.