Short Sale update

I Missed Boat · May 1, 2005

Quote from ratboy88:

who cares about the naz..he wasn't even talking about that.

No, he's suggesting that the short sale rule is unique to the NYSE and that it is the fault of the NYSE. So the Naz is relevant. Get it?

I Missed Boat · May 1, 2005

Quote from rubberbird:

Gee whiz, I must be soo far off in blaming the poor ole NYSE. You're right, there are no conspiracies...

1) Grasso was fully entitled to take $150M..yes sir!

So that means that every conspiracy theory is correct? The US has done bad things before (no country in the world has a spotless record), does that mean every crackpot conspiracy theory is true?

Quote from rubberbird:

2) NYSE is the ONLY exchange in the world that has the anti-capitalistic short sale rule

What the hell are you talking about? The Nazdaq has the same rule! Are you and ratboy 88 the same person??

Quote from rubberbird:

3) Ever try shorting "at the market" on the NYSE and have to wait 15 minutes, and get filled 50 cents below where the market was trading? How bout not getting filled at all?? Happens all the time towards the end of the day.

Yah, it can happen at the Naz or NYSE in illiquid stocks. What's your point? Or were you just in a fairly liquid stock but you weret dead last in line (you said, gee I want to get short, after you saw everybody else did too).

Quote from rubberbird:

4) The NYSE hides behind the SEC, and so idiots on this board will tell you , "its not the NYSE fault, blame the SEC." What idiots! If the NYSE wanted to eliminate the specialists and the short sale rule, they could do it TOMORROW. They don't. They cannot profit in a fair market. The NYSE sucks, and volume, and integrity will continue to slide until they suck it up and level the field.

Wow is that ridiculous. Yeah, the NYSE rules Congress, the White House and the Supreme Court too, right? Hey, and don't forget that the Nazdaq has the same rule.

rubberbird · May 1, 2005

Quote from I Missed Boat:

What the hell are you talking about? The Nazdaq has the same rule!

Oh really? Ever actually TRADE? I put any short sell market order in on any high cap stock on the Naz and i'm filled in 2 seconds max.

I put any short sell market order in on any high cap stock on the NYSE and it may take 5, or even 10, or even 15 minutes for me to be filled on my MARKET order. That's, IF it's filled at all. 50% of the time they will NOT fill your market order placed after 3:55pm.

And you telling me the Naz and NYSE have the same rules??

ratboy88 · May 1, 2005

Quote from rubberbird:

.......
And you telling me the Naz and NYSE have the same rules??

naz does not need an up tick of the last price just the bid.

size · May 1, 2005

Quote from Copernicus:

(2) short sales in any security included in the Russell 1000 Index effected between 4:15 p.m. EST and the open of the consolidated tape the following day

does this mean that stocks in the Pilot B List have the ss rule suspended only in after hours, but not regular hours?

the sec statements always confuse the hell out of me.

It looks to me to mean simply that you can short any stock in the Russel 1000 (this is comprised of all the big-caps and larger mid-caps) in the after-hours market without an up-tick. It also states that you can short any other stock not in the R1000 or the pilot lists any time that the consolidated tape is closed. (I take that to mean between the close and open.)

Therefore you guys with the nyse conspiracy theories can relax. Tommorrow you will be able to hit all the bids that you want after-hours. Let us all know about your good fortunes doing so.

Copernicus · May 2, 2005

Quote from size:

It looks to me to mean simply that you can short any stock in the Russel 1000 (this is comprised of all the big-caps and larger mid-caps) in the after-hours market without an up-tick. It also states that you can short any other stock not in the R1000 or the pilot lists any time that the consolidated tape is closed. (I take that to mean between the close and open.)

Therefore you guys with the nyse conspiracy theories can relax. Tommorrow you will be able to hit all the bids that you want after-hours. Let us all know about your good fortunes doing so.

"Therefore, the consolidated tape now operates from 4:00 am ET to 8:00 pm ET. The times at which the consolidated tape opens and closes may change in the future. "

i guess after hours now are from 8:01pm to 3:59am who is going to trade then and using what?

the only bids one can hit after hours as we knew it, after 4pm, are pilot b stocks.

nitro · May 2, 2005

Quote from size:

All you guys who are having an orgasm over this, please post back after a week or so of trading these stocks to show us what you think then. I'll wager we wont hear anything from you.

It will make a huge difference for the stocks on the list. Now if we can get all of them to go on the list...

nitro

Nordic · May 2, 2005

Quote from size:

It looks to me to mean simply that you can short any stock in the Russel 1000 (this is comprised of all the big-caps and larger mid-caps) in the after-hours market without an up-tick. It also states that you can short any other stock not in the R1000 or the pilot lists any time that the consolidated tape is closed. (I take that to mean between the close and open.)

Therefore you guys with the nyse conspiracy theories can relax. Tommorrow you will be able to hit all the bids that you want after-hours. Let us all know about your good fortunes doing so.

The tick test is suspended for stocks on the list during regular trading hours. After 4:15pm all names in the russell 1000 are exempt

size · May 2, 2005

Quote from nitro:

It will make a huge difference for the stocks on the list. Now if we can get all of them to go on the list...

nitro

What kind of huge difference? You mean harder to make money by using an edge and exploiting an inefficiency which will no longer exist?

Dustin · May 2, 2005

I had a 7% increase in todays P&L due to the new SHO. I expect 5-10% a day minimum from here on out...time will tell.