just had a simple question, I was wondering for anyone who moves size on the nyse on some of the less liquid issues, when you see prints going off left right and center is there any way to get in on the action, without just sending a market and hoping that someone takes it?
Wanted to give an example, the other day I was trading NRG and i was noticing size prints all over the market on their mid day news release, now im trying to get out of some size on my own, and i see prints go through at like the .52's for about 50k, this size was a group print above the offer, so i expected a little slippage on what i was about to send, anyways i send 20k to the .55's as a lmit bid, now another print goes through at .56 for 50k, i send it three cents up again, print goes through AT MY EXACT PRICE OF THE LIMIT BID but none of it is given to me, everytime i would bid the stock up the size prints keep getting higher and higher, even though none of the size is actually showing, eventually i senfd a market to get in on one of these prints and the spec just bends me over, and then brings the price right back down, I have noticed this numerous times that the spec seems to want you to send a market order so he can just rape you, and every time i try to bid into where size prints are going off they will just up the size prints a few cents higher, even when i send orders for like 2k it seems to travel away from me, lots of times i have also tried timing the size prints with a market order, but the print will go off then my market will fill like 20 cents higher.
Any in put on how someone from off the floor can try to get in on these prints would be much appreciated, although im pretty sure im just screwed since im not on the floor.
any input from people moving size/ex floor traders would be greatly appreciated.
thx
-Dan
Wanted to give an example, the other day I was trading NRG and i was noticing size prints all over the market on their mid day news release, now im trying to get out of some size on my own, and i see prints go through at like the .52's for about 50k, this size was a group print above the offer, so i expected a little slippage on what i was about to send, anyways i send 20k to the .55's as a lmit bid, now another print goes through at .56 for 50k, i send it three cents up again, print goes through AT MY EXACT PRICE OF THE LIMIT BID but none of it is given to me, everytime i would bid the stock up the size prints keep getting higher and higher, even though none of the size is actually showing, eventually i senfd a market to get in on one of these prints and the spec just bends me over, and then brings the price right back down, I have noticed this numerous times that the spec seems to want you to send a market order so he can just rape you, and every time i try to bid into where size prints are going off they will just up the size prints a few cents higher, even when i send orders for like 2k it seems to travel away from me, lots of times i have also tried timing the size prints with a market order, but the print will go off then my market will fill like 20 cents higher.
Any in put on how someone from off the floor can try to get in on these prints would be much appreciated, although im pretty sure im just screwed since im not on the floor.
any input from people moving size/ex floor traders would be greatly appreciated.
thx
-Dan
