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Strategies & Market Trends : The Final Frontier - Online Remote Trading
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To: gaj who wrote (12044)8/4/2007 9:15:51 AM
From: TraderAlan  Read Replies (3) of 12617
 
Many Dow and other blue chip stocks can spread out to 30-40 cents at the open. 25 to 50 cent spreads were common in 1995 before the collusion suit against the Nasdaq market makers. NYSE bid-ask takes on very fast channelling behavior throughout the day, where a typical oscillation can go from, say, 30.60x30.62 to 30.28x30.30 and back to 30.60x30.62 all in a 60-90 second whipsaw. Bids drop out instantly and price drops into air shafts when ES or NQ stretches one way or the other. Not talking about trends, just normal oscillation.

The size, every bit of it you see on NYSE, is total fantasy. To me Nasdaq still trades like Nasdaq. It's volatile because it feels like more live humans are in the mix, filling in the quotes. NYSE seems totally algorithm-driven, without a fear-greed soul, so to speak.

I've adjusted to NYSE well, but this volatility doesn't fit my trading style at all. Ive been forced to cut my frequency through the floor.

The other issue, which we've talked about here, is the overall "system" feels extremely unstable and open to a crash event. i wonder how much those black boxes back tested results for periods when VIX was 20-40, not 10-20. We also know the folks using them are the same ones who thought they were geniuses playing the mortgage debt markets.
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