Specialist manipulation

Discussion in 'Trading' started by Option Trader, Nov 2, 2006.

  1. I have been trading MA for about 3-4 months now. It was not this crazy before becoming hybrid. I made a lot of money in the stock in the past. Now its just impossible. Every time I get in, it drops 80 cents and I end up holding it and when it comes back to even, I sell it and it goes $2 higher... The same exact thing happened the past 3 days... What a coincidence..
    #21     Nov 2, 2006
  2. Hey if its that easy to lose money in MA, just do the opposite and make the money instead.

    No need to thank me.
    #22     Nov 2, 2006
  3. Hey Ricerocket, thats a mighty strict criteria, 25 to 50 million. You must trade 2 stocks.
    #23     Nov 2, 2006
  4. Whats this about the spec crossing under the ECN's . What happens to those higher bidders? Do they get filled at the lower price or what.
    #24     Nov 2, 2006
  5. MR.NBBO


    NYSE simply prints thru them (the ECNs), they get nothing unless someone matches them on the ECN. That said, there are those on DOT who get the NYSE print thru, and instantly hit the ECNs for a quick buck. Everything on DOT/or the floor that is below the inside quote gets the print.

    My favorite part of this, is that ARCA gets printed thru all day on DOT & the floor by the spec. Seems like NYSE shouldn't be able to print thru their own platform. Strange new world.
    #25     Nov 2, 2006
  6. It happens so fast that I don't even know what happened to the ecn high bids. They just disappear in a flash as soon as they see this guy spread down 40 cents...And Yes, the higher bidders on the book get cleaned up at the lower price...
    #26     Nov 2, 2006
  7. Why do you have to "get in" at all? The stock ranges 2-4 dollars per session, you put your limit buy order 80cents lower and sell order 2 dollars higher. I have never..ever bought a stock at market, the specialist is offering a bullshit, every time you look at the market price. Let the market come to your price, you should be a specialist!
    If you set 30-50 traps like this for every trading session I guarantee you can get at least 5 fish in your net almost every time. Buying "market" (what specialist wants you to buy) is pure gamble because you don't know what he knows, and he knows what you know, as simple as that.
    #27     Nov 2, 2006
  8. lol, we have some funny posts here.

    The spec is bidding and offering 1 cent apart but somehow, both prices are bs, not to be taken or hit.

    Could be.
    #28     Nov 2, 2006
  9. I am glad you are laughing, better than cursing me :)
    Yes, both prices are bs, my limit buy is always below his and my sell always above, what can I do? I am a dumb trader
    #29     Nov 3, 2006
  10. e-miNY


    Hey Don, do you agree with the statement that an offer (at least a big one) is 99% bluff? Would a professional seller who thinks prices will go down be offering? Wouldnt they just hit the bid? The reason they are offering is because 1) they are not a aggressive seller (maybe they have already put on half the position). 2) they want to buy it - they bluff some newbie into offering in front of them so they have some supply to buy from.

    Is there any more reasons for a big offer?
    #30     Nov 3, 2006