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HLV let's be honest here and not misrepresent. The interest is the "profitability of the traders". shouldn't that say we are interested in how profitable a trader is to the company. If the main interest was traders making money I am sure you would be more discerning in who you "hire?"

If you agree to refund deposits in 30 days you should never miss the deadline regardless of how many traders you have. what are you doing for the first thirty days? Can't you cut a check on the 29th, or for that matter the first?

Don You live in Las Vegas and no bet? Seriously, part of the problem, and it has become more prominent with market segmentation, but the NYSE has terms that really are part of the rules and mean specific things. Other exchanges and ECn's have adopted the terms but they don't have the same...

Hamlet The Specialists do adhere to strict rules as far as ticks. They also must try to adhere to depth market guidlines when a stock is moving. Frankly the the guideline also include orders that the specialist is acting as agent, so in liquid stocks it is pretty easy to adhere. In less...

Don The Spear Leads explanation is wrong. I have never heard this borrowed line but by the time the orders reach the floor they have been "borrowed" and are all good to go. Again, we are talking orders entrusted to the specialists. With orders entrusted to the specislist time-priority...

Don I don't agree with the notion that on openings longs have priority over shorts. I assume we are talking limit order. We have a last sale from the prior date which gives the short and the specialist the ability to use a "tick test" to determine where every order is held. Therfore all...

Maybe I can help out a firm and teach the traders how the NYSE auction market works. I have a verifiable track record high six-low seven net per year in my last gig over a few years trading about 350,000 shares a day. PM me. If you guys understand what a "held" order is? Figure out where...

Didn't Mr. Cramer write in one of his earlier books about how Maria Bartiromo used to get tooled by the hedge fund guys with info in stocks they had positions in?

Pretty good Jim. You are learning some concepts that will go a long way. With decimal pricing it should be fairly infrequent that every marketable order and every lmt at the opening price not be filled. When there was more liquidity at each tick 1/8 it was a fairly common occurence.

Still a lot of misinformation on this thread. I will try to answer this later but Don is not entirely correct but if it helps to clear anything up market sell orders do take precedence over limit on the opg and on the close. But the reasons are quite logical and different than what is being...

I was on the floor for fifteen years and never saw this process used by anyone. The only other thing I have seen in certain very liquid stocks is that each person gets filled on the same percentage of their order. We must also deal with the reality of the situation. There is even a rule...

Sorry Jim, it really isn't that complicated but I know if I don't try to explain every rule that pops up once a millenium, someone will jump in questioning my background, knowledge, and integity. In a nutshell, and throwing out the exceptions which are very infrequent: 1. long and shorts...

The good professor Blume is not wrong in a lot of what he says but his conclusion are nuts for the market. Does anyone want to think over what he is saying on NH orders? I guess he thinks a not held order entered through a computer using an algorithm is ok but one using a human floor...

Jim I am not sure if my comments will actually help anyone in their trading but they should serve to lesson the blood pressure on occasion when people here think they are being ripped off. "the ony selling interest which could have jumped ahead of Dan's short sell order would have been a...

Jim I am not sure if my comments will actually help anyone in their trading but they should serve to lesson the blood pressure on occasion when people here think they are being ripped off. "the ony selling interest which could have jumped ahead of Dan's short sell order would have been a...

Jim Have been gone today but your last snippet is pretty good and telling. It really is not worth my time to try to expalin somewhat arcane rules to those that don't want to listen. I think you have a handle on the long/short debate. Treat the specialist and his order book as one...

Jim Your doubts about short orders are well place. Time and price are the factor not long/short. Two things. 1. Your short order is only a "held" order at one specific up tick price and it is not good at that price until it is a proper uptick. For instance if you enter a short at 30...

Started reading this thread again. 36 pages and I don't think anyone get's it. One little hint when talking about "orders" and size priority. The specialist can't "size" a book at any particular price. Floor brokers can. Orders that are on parity are represented by indiviual brokers...

Sounds like you need to get a new broker rather than GS Sanjuro. Now in regard to the crossing rule, first the broker has to be on parity with the book, meaning he needs to be there for a sale. Then he can shut out the book. A true shut-out of the book probably happens fifty times a day...

Steve This might be a minor point but whi is telling you about this technical rule? As of a few years ago the stock could not even open were this situation to exist. The computer will not allow it. With my wonderful discount brokers I get a lot of "rules" that are not rules. For...