Reading the specialist

Quote from C Robinson:




probably in order to get long or add to his long position. the specialist needs a downtick in order to buy the stock.
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thats what ive always assumed, b/c ive seen this before too, and of course it ends up being a sweet fill....
 
Quote from TraderNYC:

Yes...The program was a rotational program...rotated through NASADAQ Capital Markets, Fixed Income Desk, Prop Desk, AMEX Options and ETFs as well as Equities...I was placed on the Amex Options...but really wanted to do the Nasdaq MM'ing...I left after a few months...now I work for Caxton Associates...(hedge fund)

I went to NYIF for lots of classes, Steve Nison taught our candle stick course...they really dropped money on the program and training....
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why did you leave, better offer? seems a good oppurtunity to leave (GS and all)
 
Quote from DaveN:

One behaviour that I've noticed in a couple of stocks that trade closely with the SPoos is the following: Say both the SPoos and this stock are strong that day. The market has pulled in a bit and starts to rally. For some reason, the specialist will print up 2, 3 or 4 cents, then print back down 2 cents below the original before taking the stock back up.

I know this is not a late print report because I've often been the one getting filled 2 cents down on my order sitting in the book. I'll see my fill before I see the print go off on the tape.
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Excellent observation. Cant begin to count the number of times that Ive been whipsawed by these tendencies,

Thx, may try to put into practice

:)
 
Quote from DaveN:

One behaviour that I've noticed in a couple of stocks that trade closely with the SPoos is the following: Say both the SPoos and this stock are strong that day. The market has pulled in a bit and starts to rally. For some reason, the specialist will print up 2, 3 or 4 cents, then print back down 2 cents below the original before taking the stock back up.
More...
I've noticed this happening this past week in IBM. Haven't been able to figure out how to game it, although I havn't really tried as my position is really just a long swing trade.
 
Quote from TraderNYC:

Yes...The program was a rotational program...rotated through NASADAQ Capital Markets, Fixed Income Desk, Prop Desk, AMEX Options and ETFs as well as Equities...I was placed on the Amex Options...but really wanted to do the Nasdaq MM'ing...I left after a few months...now I work for Caxton Associates...(hedge fund)

I went to NYIF for lots of classes, Steve Nison taught our candle stick course...they really dropped money on the program and training....
More...
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TraderNYC;
What were the top 2 thing you learned in NASDAQQ, Amex options,ETFs training that you had never read??

One of the best specialists read is , click search & ''DeeMan'' top right hand corner this page. Amazing what some write for free.

One of the most common patterns is apparently when the specialist goes to lunch;
replacement likes to play games on low garbage volume.
:)
 
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