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Strategies & Market Trends : SOES Trading
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To: shag007 who wrote (1567)8/5/1998 2:31:00 AM
From: shag007  Read Replies (1) of 1618
 
It's nothing new but definitely to an mm's advantage, when they are bidding or offering stock and they execute an order they have 90 seconds to leave their offer or bid out there. They can then leave without executing any more. So your order sits there you don't get filled (the mm probably saw the momentum going against him) the price now gets one level away from you. You go ahead and try to hit an ecn at that level. Their gone before you know it and the mm appears again two level's below. So you hit him just to see the stock come right back up.
It can also work the other way. If they see the orders coming in they start filling orders.It would be great if we could do this.

Also, when they implemented the ASR they should have gotten rid of the five minute rule.

Regards,

FDA

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