for Don Bright, question about short detection

Originally posted by Don Bright there can be very little tape reading on the naz
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Don, what about extrapolating from NYSE to the other markets?

I *don't* mean, "If shorting represents 2% of today's QQQ volume at NYSE, then the percentage is probably 2% today on NASDAQ, AMEX, etc."

I mean, "If today's NYSE-QQQ shorting is 17% greater than its daily average, then a similar increase is probably happening today on NASDAQ, AMEX, etc."

For high-volume/liquidity issues -- where the sampling-size isn't too small to be statistically reliable -- and excluding occasional anomalies such as J**us behaving foolishly,
can you describe any particular reasons why day-over-day variations at NYSE wouldn't be mirrored elsewhere?

Thanks.
P.S. -- oops, using an ETF was a bad example. Pretend I said "XYZ" instead.
 
Originally posted by nusrat
Don, what about extrapolating from NYSE to the other markets?

I *don't* mean, "If shorting represents 2% of today's QQQ volume at NYSE, then the percentage is probably 2% today on NASDAQ, AMEX, etc."

I mean, "If today's NYSE-QQQ shorting is 17% greater than its daily average, then a similar increase is probably happening today on NASDAQ, AMEX, etc."

For high-volume/liquidity issues -- where the sampling-size isn't too small to be statistically reliable -- and excluding occasional anomalies such as J**us behaving foolishly,
can you describe any particular reasons why day-over-day variations at NYSE wouldn't be mirrored elsewhere?

Thanks.
P.S. -- oops, using an ETF was a bad example. Pretend I said "XYZ" instead.
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The "tape reading" that I refer to is stock specific, especially when "following a short seller"....and also "real time" with no time to review or to pop up on a chart or anything. This type of tape reading is extremely valuable since we can hit bids to help the short seller get the price down, and then buy back from him.

Don
 
Originally posted by nusrat

DATT,
Well, I'm in that awkward state -- not too dense to realize that you're being sarcastic, but still too dense to grasp your point. If it was meant to be insulting, it went over my head. Please lower it to my level.
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Sorry meant neither. Was not trying to insult just be funny. I have the same effect on my wife by the way. But my feeling is that there is no way to know for sure that a Specialist is shorting or selling long, you can only speculate based on intuition, experience trading that stock and watching the specialist etc. (none of which I can do by the way).
 
Don, what is your track record over the last 3 years? You give out a lot of advice, so I was just wondering.... If you do not mind sharing..... thanks
 
Originally posted by Weasel
If a large seller continues to lower his offer as the stock price drops, he's got to be a short seller. If he were a real seller he would sell the stock at a price he knows he can get it done. Selling at the offer in a dropping market isn't going to cut it.
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Weasle that implies that a seller can only be selling at EITHER the offer or hitting the bid! Iif I were selling a large position, first off I would not throw it all up at once, so my displayed size will be something less than my total position. This assumes its not end of the world 911 type conditions

Meanwhile, I may not be so desparate as to whack the bid with my whole (hypothetical) 50,000 share block, especially if I still have a good net profit in the position. So I hit the bid for a few thousand while at the same time offering out a few thousand. If I sell 2000 at the bid and 2000 at the offer then GREAT! If I don't and the bid steps down, then I will lower my offer on the unfilled previous offer and maybe hit the lower bid for another 2000 etc.

I would think that Specialists will act in similar fashion but maybe I am way wrong since I am not Don and have much more limited experience with NYSE. As my daughters would say "Naz rules and Don drools."
 
well, Dattrader, you clearly are a "size" trader.

we call all learn from you.

So next time I need to sell 500 shares, I should show all my size, just hit the bid on say, 100, then offer out 200 at a higher price, and hold back 200 just in case it goes my way?

(:D )
 
Originally posted by limitdown
well, Dattrader, you clearly are a "size" trader.

we call all learn from you.

So next time I need to sell 500 shares, I should show all my size, just hit the bid on say, 100, then offer out 200 at a higher price, and hold back 200 just in case it goes my way?

(:D )
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As my edit states, the presumption is that the position is net profitable so why whack the bid for the whole position. But your probably one of those weakhand losers who runs for the hills at the first shake out only to miss out on the real move so your response is relevant and warranted....to you.:D :D

PS when dealing in chump change positions like you referenced, feel free to not overwhelm your pretty little head and ignore my original post. After all what's a penny among friends on a measly 200 shares. Oh yeah that might be your daily profit target so strike that.
 
Originally posted by DATTrader


As my edit states, the presumption is that the position is net profitable so why whack the bid for the whole position. But your probably one of those weakhand losers who runs for the hills at the first shake out only to miss out on the real move so your response is relevant and warranted....to you.:D :D

PS when dealing in chump change positions like you referenced, feel free to not overwhelm your pretty little head and ignore my original post. After all what's a penny among friends on a measly 200 shares. Oh yeah that might be your daily profit target so strike that.
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LOL :p

(after all, I was making a joke, and good that you got it like that, but, hey, don't slam me so hard, next time)
 
Originally posted by limitdown


LOL :p

(after all, I was making a joke, and good that you got it like that, but, hey, don't slam me so hard, next time)
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We should make a ELite wide policy that :D means friendly humor slam and :p means I really think you are a Fu^%&ng idiot and I meant every word of it. :D
 
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