I'll give it a shot.
Quote from chiefraven: usually if the stock is going up it looks something like this:
^ 32.00 200
31.99 NYSE 32.00 1x2
So far, so good. People taking offers can be seen as bullish.
However, sometimes there are times when it looks like this:
^ 32.88 200
32.88 NYSE 32.90 8x2
in which the uptick print happens at the bid price and not the offer price... how can this be? how is he getting that 200 shares at 32.88 when people are selling at 2.90?
Assuming, on your platform, the "^" means uptick from the previous different print, it just means the previous different print was <= 32.87. If the NYSE bid hasn't moved since that lower print, it was probably from an ECN. Otherwise, the NYSE just upbid.
the other scenario is:
^ 32.78 200
32.77 NYSE 32.79 2x2
when the uptick print is printed at a price between the bid/ask.
Now from my experience, i know that most of the time when the uptick print is going off and it's of shares equal or less than 1000 shares, it is usually being printed at the offer price (scenario 1) since most often time it's an NX order, and with NX order you can only buy from the offer price.
I can't agree with those assumptions. If the last different print was less than 32.78, any print at 32.78 or higher will show an uptick. I don't think you can draw any correlation between <= 1000 shares and it being an NX trade. The only thing you know for sure is that if it is 1100 shares or greater, it cannot be an NX trade. I can't really see why it matters, either.
In this scenario, the print can be caused by either:
1. Someone sends a buy market for 200 to NYSE, and the spec or someone in the crowd is willing to improve the offer, or an opposing market or <= 32.78 limit order comes in around the same time, so 200 trades at 32.78.
2. There is a (possibly-hidden) ECN bid or offer at 32.78 and someone hits/takes it.
Finally, i know that a lot of times with shares greater than 1000 shares, meaning it's probably a market order, it's usually not being printed exactly at the offer price because the specialist has the control to print it at whatever price he wants.
I can't see any reason why > 1000 shares would have any correlation to it being a market order. Again, the only thing you know is that it's not NX (whatever good that does). And again, it prints between the bid and offer because it happens on an ECN or there is someone (the spec, the crowd, or a sell order) willing to improve on the quote.
Quote from chiefraven: usually if the stock is going up it looks something like this:
^ 32.00 200
31.99 NYSE 32.00 1x2
So far, so good. People taking offers can be seen as bullish.
However, sometimes there are times when it looks like this:
^ 32.88 200
32.88 NYSE 32.90 8x2
in which the uptick print happens at the bid price and not the offer price... how can this be? how is he getting that 200 shares at 32.88 when people are selling at 2.90?
Assuming, on your platform, the "^" means uptick from the previous different print, it just means the previous different print was <= 32.87. If the NYSE bid hasn't moved since that lower print, it was probably from an ECN. Otherwise, the NYSE just upbid.
the other scenario is:
^ 32.78 200
32.77 NYSE 32.79 2x2
when the uptick print is printed at a price between the bid/ask.
Now from my experience, i know that most of the time when the uptick print is going off and it's of shares equal or less than 1000 shares, it is usually being printed at the offer price (scenario 1) since most often time it's an NX order, and with NX order you can only buy from the offer price.
I can't agree with those assumptions. If the last different print was less than 32.78, any print at 32.78 or higher will show an uptick. I don't think you can draw any correlation between <= 1000 shares and it being an NX trade. The only thing you know for sure is that if it is 1100 shares or greater, it cannot be an NX trade. I can't really see why it matters, either.
In this scenario, the print can be caused by either:
1. Someone sends a buy market for 200 to NYSE, and the spec or someone in the crowd is willing to improve the offer, or an opposing market or <= 32.78 limit order comes in around the same time, so 200 trades at 32.78.
2. There is a (possibly-hidden) ECN bid or offer at 32.78 and someone hits/takes it.
Finally, i know that a lot of times with shares greater than 1000 shares, meaning it's probably a market order, it's usually not being printed exactly at the offer price because the specialist has the control to print it at whatever price he wants.
I can't see any reason why > 1000 shares would have any correlation to it being a market order. Again, the only thing you know is that it's not NX (whatever good that does). And again, it prints between the bid and offer because it happens on an ECN or there is someone (the spec, the crowd, or a sell order) willing to improve on the quote.