trading on AMEX
- Thread starter putladder
- Start date
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Putladder;
Put it simple and call it the way the newly annointed CEO mr Neal Wolkoff puts it or calls it ;
quote ''they[AMEX specialists] SIMPLY cant execute all the orders. They physcially cant get to the keyboard in time to do it all''unquote/ June-July Trader Monthly,2005
Come to think of it they havent been in news for SEC fines for not honoring option quotes like they used too;
this maybe is a good trend starting???????
WOW, its not a prediction but that newly annointed CEO could actually straighten that system out, sounds like he is from the old school;
ride hard, shoot straight and speak the truth.
AMEX has little volume for a reason.
I make my living trading nyse stocks, but in 2002 I spent some time trading AMEX stocks, primarily SPY. I found it to be an unfair and abusive system. Cancels are not made until the specialist is sure that he cannot find an edge in filling your order (i.e., if the market moves against you, etc)...literally minutes can go by not knowing if you've been filled order not. Limit orders don't have be filled at the best bid or ask. For example, I once had a 1000 share buy order for SPY 0.10 under the bid, the market started to turn down, so I cancel...the order remained open for almost a minute until SPY was trading at 0.50 under my limit price, then I was filled AT my limit price--instant $500 loss...SPY has great liquidity and could have easily filled me at the current market price.
I've experienced every abuse from NYSE specialists, but I would rather trade with the worst NYSE specialist than the best AMEX.
I make my living trading nyse stocks, but in 2002 I spent some time trading AMEX stocks, primarily SPY. I found it to be an unfair and abusive system. Cancels are not made until the specialist is sure that he cannot find an edge in filling your order (i.e., if the market moves against you, etc)...literally minutes can go by not knowing if you've been filled order not. Limit orders don't have be filled at the best bid or ask. For example, I once had a 1000 share buy order for SPY 0.10 under the bid, the market started to turn down, so I cancel...the order remained open for almost a minute until SPY was trading at 0.50 under my limit price, then I was filled AT my limit price--instant $500 loss...SPY has great liquidity and could have easily filled me at the current market price.
I've experienced every abuse from NYSE specialists, but I would rather trade with the worst NYSE specialist than the best AMEX.
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Have used DIA,SPY,QQQQ for benchmarks/trend info for quite some time;
and actually respect the newly annointed CEO for admitting the problem , which in itself is quite a change.
I am not sure mr NBBO , if that is ringing endorsement or not;
laugh out loud
Lot of momo run ups and Pump & Dumps on AMEX stocks, like the OTCBBs.
Many of those, who are in the know, call it "The scAMEX".