I'm a newbie trader, and I trade expensive stocks [with mostly success], anywhere from $70-$100, on the NYSE.
A lot of times I see guys with big orders on the bid or the offer. Then, no one actually hits the offer. So, I see the big order get split up in half and adjusted so the offer drops even further. Then I see a sort of leap-frogging of sorts up until a point where both groups of orders are eaten up by buyers.
If no one is eating their shares, it seems equally likely to me that getting short / selling shares around even a penny or so under levels where they are showing their offer is equally as difficult given the uptick rule.
The uptick rule in this scenario is a huge nuisance, because I can't seem to get a fill at any reasonable price.
Does it actually make sense to widen my acceptable loss risk and try to find a buyer before they go crazy and start leap-frogging all the way down? Does anyone out there actively exploit this scenario when they see it and actually make a buck off of it?
I see this happen over and over, and can never get short before the stock plummets. If I -do- get short, it's usually around the point when the buyers take over -anyway-. So, the whole thing is kind of screwy.
... Also, is it inappropriate to talk about things like this in public forums? I mean, is this considered asking for another trader's edge? I guess I'm just asking how to short with the lowest risk possible.
... While I'm posting -- where do I get a list of stocks without the uptick rule?
A lot of times I see guys with big orders on the bid or the offer. Then, no one actually hits the offer. So, I see the big order get split up in half and adjusted so the offer drops even further. Then I see a sort of leap-frogging of sorts up until a point where both groups of orders are eaten up by buyers.
If no one is eating their shares, it seems equally likely to me that getting short / selling shares around even a penny or so under levels where they are showing their offer is equally as difficult given the uptick rule.
The uptick rule in this scenario is a huge nuisance, because I can't seem to get a fill at any reasonable price.
Does it actually make sense to widen my acceptable loss risk and try to find a buyer before they go crazy and start leap-frogging all the way down? Does anyone out there actively exploit this scenario when they see it and actually make a buck off of it?
I see this happen over and over, and can never get short before the stock plummets. If I -do- get short, it's usually around the point when the buyers take over -anyway-. So, the whole thing is kind of screwy.
... Also, is it inappropriate to talk about things like this in public forums? I mean, is this considered asking for another trader's edge? I guess I'm just asking how to short with the lowest risk possible.
... While I'm posting -- where do I get a list of stocks without the uptick rule?
