I've got to give props to the support at MBTrading in general and
more specically to Steve for his timely answers and insight.
Another hats off to my ARCA key for executing my ass(ets) out of some
funky (no offense Funk) rapidly tanking IPO's I played last week.
I have had good success playing IPO's on the first uptick out of the gate with either Island or ARCA. But I had 3 ipo's last week that
were the pits, with irregular spreads, lagging quotes, locked,
crossed ....you name it.Needless to say, Island with all it's grand liquidity, was the tool from hell as the market instantly turned south
on me and soes market was a laffer, selectnet a negotiating stop blower, Island was worse as the cross/lock superhotkey from hell.
After numerous attempts to exit at first site of a reversal, I became
an ARCHIPPER who could throw out my generous "ask" on ARCA cross/locking until marketable and exiting my position. It saved my arse 6 times . Island would have killed/deleted all of them.I'm tired
of hearing "it doesn't have the liquidity". It is a valuable tool that
we need in our bag. Selling into strength isn't always a luxury. Negotiating with a MM is never my "preference" even the I do it.
Just wanted to air this out to all in hopes someone else can identify with these trading circumstances.......Good Trading ,CRUZ |
