DAYTRADING Fundamentals Message Board

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Strategies & Market Trends : DAYTRADING Fundamentals

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To: OZ who wrote (8420)	5/11/2000 7:41:00 PM
From: Michael Friesen	Read Replies (1) of 18137

>> Has anyone else noticed a certain computer automated trading system...? Yes, I have been trying to figure out what is going on. I see it all the time in JDSU and I think CMGI. I usually count 4 ECNs, BRUT, REDI, BTRD, ARCA. Maybe Island is there too. And always 200 shares each. They pop up in a string on one side, and then flip over to the other. Very annoying. I was thinking that one use of such a tool is to test where liquidity is, since someone trading with your limit order (or not) is a signal about supply/demand. If I were a big trader, getting hit on 200 shares would be a small price to pay for information so that then I could go in and do 10,000 shares.

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