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Strategies & Market Trends : The Final Frontier - Online Remote Trading
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To: peter michaelson who wrote (3752)4/20/1998 9:09:00 PM
From: steve goldman  Read Replies (1) of 12617
 
At our firm, I might consider setting up SOES to buy your 1000 spyg at 10 1/4, trying to protect your order, while bidding on the bid with other mm or routing to an ECN to get stock at 10 1/8. Watching the prints and seeing action, and having experience to understand the action, lets you know your chances.

If the stock strengthens, hit the button, own it at 10 1/4. If stock starts falling, pull the bid and look for 10 1/16.

On the NYSE, its even easier, just simply make sure your order is routed to NYSE and if a nice seller comes in you'll increase chances of getting printed on the bid. Most firms nondiscriminatorily route to third market makers and they fill you, almost automatically on the offer and if its printing on the bid ,k they take that and they keep the spread.

Very few firms still do what we do.

Regards,
Steve@yamner.com
yamner.com
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