Anyone having success tape reading the NYSE hybrid ? Seems to me NYSE is doing everything it can to make trading their system just about impossible for all intra-day traders.
With 62% of overall market volume trading elsewhere is this really an effective method anymore? This is not a sarcastic response, but a real question.
Yes tape reading works now, but the game is figuring out the algorithms instead of reading the specialist. Too many ex tape readers get too confused by fragmented orderflow to have the creativity to find meaning in the data, therefore claiming that tape reading doesn't work. It works especially well on thin stocks.