PROGRAMMER'S PARADISE (PROG) Message Board

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Technology Stocks : PROGRAMMER'S PARADISE (PROG)

PROG 0.146

+6.5%

Jun 13 5:00 PM EST

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To: Zeev Hed who wrote (101)	1/10/1999 3:58:00 PM
From: orkrious	Read Replies (1) of 2383

Zeev, re Supposedly some people with level II system (mostly day traders) can use this system for orders of up to 1000 shares to, in essence buy at the bid and resell at the ask. If they act fast they can do fine. A small correction. SOES allows you to buy at the ask and sell at the bid. It is not what it used to be, since market makers are now only obligated to fill 100 shares on a SOES order before they can move away. It used to be 1000 shares. Throw in the higher volume, and it is hard to get a good execution on SOES on a fast moving stock. The day traders primarily use the ECN's now, such as Island, ARCA, ATTN, etc. Jay

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