fun with quotes

C

chasinfla

here's an example of the sort of fun you can have if you're a specialist.

<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=227372"></img>


we're looking at the stock in red.

ok. the deal is that the level 1 quote never changed during the period the two prints (outside the posted market) were executed -- even a longer period.

1. 70.87 last 70.72 X .75 market
2. 70.90 last 70.72 X .75 market

I know we all see this all the time but there's something about documenting that helps me vent a little.

the 1X1 indicates that the book was 'frozen.' perhaps the 700 shares that traded was more than he could deal with...?

sorry about the poor resolution...don't know what's up with that.
 
It looks like the work of the new liquidity quote that specialist are printing against but that we can't see yet. These prints happen all day long now. For the most part the inside quote does not seem very helpful now.
 
Quote from cornholetrading:

It looks like the work of the new liquidity quote that specialist are printing against but that we can't see yet. These prints happen all day long now. For the most part the inside quote does not seem very helpful now.
More...

this presents a bit of a problem to the <i>rest</i> of the world -- those of us off the floor, doesn't it?

Now, more than ever, the trend is your friend. If you can find one.

Rhetorically, I ask, just what does 'liquidity quote' mean, really? does it mean that it's the price where things get done? if there is no liqidity at the posted quote, what purpose does it serve?
 
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