Trouble getting filled on nyse stocks

L

listedguru

Anyone else having trouble getting filled on NYSE stocks the last couple of months or so? It seems to me that it's harder than ever to get a decent fill.

For example if one of my stocks is setting up as a buy and I try and buy it always seems like the specialist freezes the book, prints a big print but I'm not part of that print. Or he just spreads the stock up from there....

Anyone got any pointers on how to get better fills? This is ridiculous....

-Guru
 
Quote from listedguru:

Anyone else having trouble getting filled on NYSE stocks the last couple of months or so? It seems to me that it's harder than ever to get a decent fill.

For example if one of my stocks is setting up as a buy and I try and buy it always seems like the specialist freezes the book, prints a big print but I'm not part of that print. Or he just spreads the stock up from there....

Anyone got any pointers on how to get better fills? This is ridiculous....

-Guru
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Use a market order to NY. Mkt's take priority over limits especially if everyone else is doing what you are doing.
 
Specialists fades $0.10, then prints .01 better than their best market so they can claim it as a price improvement on the SEC report.


:)
 
Quote from JMartinez:

Use a market order to NY. Mkt's take priority over limits especially if everyone else is doing what you are doing.
More...

Just a note of caution. We advise our traders to always use limit orders, since the limit orders can be filled by the "clerk" in a very timely manner. The market orders must be batched by the Specialist, and traded at a price denoted by him. This can make for a longer time frame for market orders than limit orders to be filled.

Don
 
Quote from Don Bright:

Just a note of caution. We advise our traders to always use limit orders, since the limit orders can be filled by the "clerk" in a very timely manner. The market orders must be batched by the Specialist, and traded at a price denoted by him. This can make for a longer time frame for market orders than limit orders to be filled.

Don
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You can put a limit but if you miss the block because of your limit being to far away from the market then the Mkt order will get you on. Since you are having trouble getting the block Mkts will do the job. The thing with the limit is you don't know what the block price will be when the block prints so you have to guess with a limit. With a market no thinking involved, just get the print or one of the prints but make sure you think it is going to really move because it can be blocked up and come right back down with you printing the high. :(
 
I got your PM.
Sorry that I didn't get back to you right away.

I would have to agree with Don Bright on this one.
I use limit orders and tend to get filled pretty well that way.
Every now and then I will get the infamous "price improvement" when a larger order comes in to the marketplace, but by and large, I have used limits with good success.

Have you ever tried using INCADP?
 
Waggie,

I don't believe that I've ever used INCADP. What exactly is it? When you use a limit order do you usually put it over the current market by a set amount?

-Guru
 
Quote from JMartinez:

You can put a limit but if you miss the block because of your limit being to far away from the market then the Mkt order will get you on. Since you are having trouble getting the block Mkts will do the job. The thing with the limit is you don't know what the block price will be when the block prints so you have to guess with a limit. With a market no thinking involved, just get the print or one of the prints but make sure you think it is going to really move because it can be blocked up and come right back down with you printing the high. :(
More...

The 2 minute rule applies no matter what...and (not to be argumentative, just commenting), sometimes you don't want "in" at any price...and maybe prefer to have "missed that one" (since many times they fade back)....

Personal choice, I just wanted to remind everyone of the timing involved.

Don
 
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