Someone add a bit more to my education.
Lets say I am watching a stock on the NYSE, and it is going down to where I think it might find support.
The spread is 5 @ 40.51 x 2 @ 40.95.
And I decide to buy in (brave soul) and put in a bid of 40.55.
If the specialist is thinking right along with me (and for once I am correct) can/will he jump in front of me with a bid of 40.56.
And, will I ever see that he has done this. Seem like the next thing I know, the shown bid and offer never changes, but there are sales going off at higher prices.
This is why I don't like the NYSE. Sales are going off at prices between the bid and offer, and the bid/ask numbers never change. How can we possibly get a handle on what is going on if we are kept in the dark like this.
This specialist thing sure is a rigged game.
Lets say I am watching a stock on the NYSE, and it is going down to where I think it might find support.
The spread is 5 @ 40.51 x 2 @ 40.95.
And I decide to buy in (brave soul) and put in a bid of 40.55.
If the specialist is thinking right along with me (and for once I am correct) can/will he jump in front of me with a bid of 40.56.
And, will I ever see that he has done this. Seem like the next thing I know, the shown bid and offer never changes, but there are sales going off at higher prices.
This is why I don't like the NYSE. Sales are going off at prices between the bid and offer, and the bid/ask numbers never change. How can we possibly get a handle on what is going on if we are kept in the dark like this.
This specialist thing sure is a rigged game.
