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Pastimes : Help site for Dummies
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To: Arcane Lore who wrote (75)11/13/1999 8:06:00 AM
From: Mama Bear  Read Replies (1) of 97
 
" one possible explanation (assuming for the sake of definiteness that you were buying 1900 shares) is that the two 19's in a row were perhaps ones where someone (almost certainly either a market maker or a day trader) located 1900 shares that could be sold to you at a profit (of course, it could also have been a coincidence). "

AL, having watched this occur many times on L2, it's my opinion that what he is talking about is a result of the Manning rules. Example, the inside is 10 x 10 1/4, and I put in an order to sell 1900 at 10 1/8. NITE shows up on the screen with 19 at 10 1/8. You buy them from him with a market order. NITE then buys the 1900 from me and there are two consecutive and nearly simultaneous prints of 1900 on the tape.

Regards,

Barb
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