Do not worry about other peoples' comments. If you believe that you are contributing honestly, then please continue do so. I wish we were in ancient greek era, when knowledge was shared. We should not provide fish on the plater, but teach them how to fish. And, there are many ways to skin the cat. Aristotle, Socrates, Plato, Archimideus, and like minded people are the immortals. They created the western civilization.
Good posts. Keep them coming. How many stocks in your stock universe are NYSE and how many are Nasdaq? Do you notice differences in how they trade? I switched from trading almost exclusively Nasdaq to exclusively NYSE and I find that NYSE seems to trend with less tree shaking from MMs due to the fact that there is only one specialist that makes a market for that stock. The specialist sees all the order flow and executes trades, so in effect, he is the one and only human being that is creating the tape. Undoubtedly, he realizes S&R levels and depending on order flow, he will move the price to those levels or break through those levels. I am interested to hear your thoughts if you notice subtle differences (on a micro level) from trading in different markets. DNAJ65000
Glad your enjoying the posts, and they will keep coming. I have a total of 28 stocks in my universe, 20 Nasdaq and 8 NYSE. I used to trade Naz exclusively but the enhancements of late have really improved the executions on NYSE, although theyâre still pretty rough I have increased the number of NYSE stocks. Specialists have ultimate control of the stock, and while itâs an upside in some cases itâs a downside in many other cases. The NYSE stocks I chose not only have good swing, but also good daytrading opportunity, thatâs what I look for in any stock since I deploy strategies in both timeframes. The specialist is empowered with a great deal of latitude, and yes he can guide the stock in a way that benefits his book and the crowd. This is not considered a form of manipulation (as far as the SROs go), but part of his role in maintaining a fair and orderly market. It often appears to us that he is creating more order than fairness. You also must keep in mind that the NYSE is an auction market and the Nasdaq is a negotiated market. They are two different animals. I have been raped by the specialists several times, far too many times the stock will trade right through my bid or offer. Far fewer times I get price improvement. NYSE stocks appear to trade in a more orderly manner, but the fills are not as impressive. Another thing I found with NYSE, is that the spreads are much more volatile than Nasdaq, that creates high levels of uncertainty on a micro level. The spread will go from 1 to 12 cents in a few minutes. In the end I have a greater comfort with Nasdaq on a micro-level. There is much greater depth in transparency, thanks to Super Montage. NYSE Open Book is still not as open as it should be. I donât believe NYSE will ever have the same depth of transparency that Nasdaq has. This opinion I have formed over the years is made up more of my experience with NYSE and Nasdaq, but I have friends that work with LeBranche and Spear and Iâm fortunate to hear what they talk about at barbeques and kidâs birthday parties. At times I wish I didnât know, J. After a number of complaints from the institutions, the NYSE recently launched a âlow keyâ internal investigation into âspecialistsâ practices, one of the investigations is âpenny jumpingâ. NYFIX, CAES and the ECNs have been hurting the specialists, so its not hard to see why they continue their antics. Weâll see what the results of the investigation are. Until then just take one day and one stock at a time. J
I have no gripe with the comments here, just in the way they are posted. There's really no need for profanity or personal insults. I can see where much of the cynicism comes from, I respect it and understand it. My agenda here is pretty simple, read posts, answer questions and share some of my knowledge. I enjoy hanging out here. It's a hell of alot better than watching one of the reality shows. I've been at this for a while, and I never lost sight of the fact that there are still so many traders that lose sight of the basics, or just need words of encouragement. When I had crappy days, I always had a friend that I could turn to, to get new ideas, advice, answers, or just a laugh. At times he screamed at me, and other times he made me laugh. In the end he was a great asset to my trading career. If everyone here had that kind of person, then ET's membership would be 10% of what it is now. I believe most people come here to learn, kibitz, or just like the camaraderie. Others may benefit from what I share or contribute, but I also benefit by the information here. There are some great posters here, I don't question their agenda, I just look at what they have to say, and internalize it. Writing the reports helps me become a better trader, writing has become a reinforcement for me. The questions and or inpu that may follow is really stimulating. Like I've said before, many people have shared with me and it helped me conquer myself, I don't mind giving it back. Thanks for the post.
just curious if you have traded TLT or any other listed ETF's that follow the fixed income market in recent weeks?
Funny you should ask, I began trading TLT a few weeks ago. I was looking for a way to take advantage of the bond death spiral, I was carrying some long term fixed income positions in IRAs and life insurance policies, and was looking for alternatives. I like their swing tradeabililty, but they really haven't caught on with the masses as much as I would like them too. Until the volume picks up I'll continue to swing them only. I'd like to see the volume pick up in LQD, SHY, and IEF as well. I'll be focusing on them a bit more and increasing my exposure going forward. As you know we just had a deadly penetration though major support. Nothing like shorting US debt..... Go kick butt SethArb!!!