I was trading some biotech I bought at $41 and before I could put my order to sell it at $42.60 it hit $42.89 and fell back to $42 where I dumped it. The same thing happened with Puts on LULU yesterday stock is trading at $53.00 when I get ready to sell my puts at $2.00 (I paid $.88 and they hit $2.10) and Poof! LULU is back to $54.60 and falls back down to $52.90 where I finally dumped my puts. The puts went from $2.00 to $.60 back to $2.10. How's that for fast trading, most of this trading does not make sense, you can see Apple's Buyback in action today, that's trading that makes sense. A trader can position themselves to profit from Apple's great move. I churned over 5000 of Apple's $113 and $114 Calls, back and forth so low commission is needed besides a great execution. If I got rebates on these, most were providing liquidity and on some I got screwed because the Market Maker never posted my order! I posted 400 contracts at $.30, 90 get filled and I never see anything on the level two. I posted this order before the stock hit $.27 so what do you think happened?
Can you make sense of the HFTS gang? If your brokerage sucks your in trouble, one thing a trader must do is have orders placed in case the stock moves like the biotech I bought or you lose your only chance on these crazy stocks, what say you?
Can you make sense of the HFTS gang? If your brokerage sucks your in trouble, one thing a trader must do is have orders placed in case the stock moves like the biotech I bought or you lose your only chance on these crazy stocks, what say you?
