Clearly, even after several hundred posts, you are truly a rookie! Who doesn't love volatility?....And by the way, is there any other way for people like you, who post on these boards, to make money?...Remember, with out volatility you are left fading the fundamental based trader who knows everything about that stock you just sold him. Who in the hell wants to fade a whole fleet of equity analysts, whose clients have literally billions of dollars to chase a stock?....learn to trade -> learn that volatility is your friend!
specialist goin to the can
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yeah, seriously. the fact is, since oct 02, they've gotten truly out of control, and in an auction market, they have no business scalping opposing orders that they see at the same time. they're morons to do something like this; in the current environment they're getting scrutinized like crazy anyway, so if they want to trade differently, they should change the exchange rules instead of clearly breaking them and making the world think they're a bunch of thieves (although they are).
the NYSE is simply a better marketplace than nasdaq for regulation. everything goes thru one place, thus it is easier to scrutinize. nasdaq is far more frustrating to trade if you are bothered easily by manipulation.
personally my livelihood depends largely on the NYSE system. although i think that the crackdown on specialists is needed (they're probably taking out .02-.03 per share by not pairing orders properly -- this money should be going into our pockets, not theirs), i really hope that the NYSE model does not change. if it is in fact a good idea to have an ECN market for listed stocks, then why aren't there firms using an ECN business model for listed stocks?? i think that most people realize that the NYSE is a superior system than nasdaq.
yes, there are definitely problems with the NYSE, especially since 10/02, but hopefully what happened yesterday will be the start of a bigger crackdown on the bullshit that's become all too common since 10/02. it would be clearly better if there was less bullshit, less screwing the flow, and less backing away from a posted market, freezing the book, or not updating the quote. i think if that stuff can be eliminated, then the old NYSE will come back and more people will trade it and there will be far more liquidity. right now the lack of liquidity and extreme slippage is really the problem, and all the bullshit routines that the specs pull like i mentioned above has alot to do with the poor liquidity and slippage.
just my .02
Now you're getting subjective...volatility is a sufficient condition to make money...and what move isn't a tradable move?...seems to be a matter of perception at this juncture.
You may have an entirely separate nomenclature for your experience in the market. However, the bottom line still remains - <u>volatility is your friend! </u>
the guy who was relieved was in charge of GE... they dont put a lackey or wet behind the ears trader in charge of GE, this was a senior guy... and sh*# rolls down hill... just tip of the iceberg, but NYSE is still better marketplace than nazcrap
Some people at Worldco have Bloomberg.
It looks to me, I don't know if someone has made this observation already, but this guy was front running SuperDot orders. He has 30 seconds to accept the order into his book, but something he can NOT do is add to his position in the direction of the impending order.
Like many here have said, like I have said before here, the NYSE is an embarassment in todays world of technology. The exchanges in Europe are so well managed and maintained as total electronic marketplaces. To have any one person or group have a MONOPOLY over order flow is criminal. They fixed the Nasdaq, how 'bout fixing the worlds largest exchange.
Bloomberg poo-pooed DICK Grasso's $50,000,000,000.00 request for a new building for the NYSE (50 stories) because Bloomberg knows that it's just a matter of time before there will be no need for a 'site'. His own BTRD (Bloomberg Tradebook) is a major competitor to the NYSE, so he's got some good insight to the need or lack thereof for a new NYSE.
Like many here have said, like I have said before here, the NYSE is an embarassment in todays world of technology. The exchanges in Europe are so well managed and maintained as total electronic marketplaces. To have any one person or group have a MONOPOLY over order flow is criminal. They fixed the Nasdaq, how 'bout fixing the worlds largest exchange.
Bloomberg poo-pooed DICK Grasso's $50,000,000,000.00 request for a new building for the NYSE (50 stories) because Bloomberg knows that it's just a matter of time before there will be no need for a 'site'. His own BTRD (Bloomberg Tradebook) is a major competitor to the NYSE, so he's got some good insight to the need or lack thereof for a new NYSE.
VERY TRUE!