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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Lee Lichterman III who wrote (24169)	8/30/1999 4:37:00 PM
From: HairBall	Respond to of 99985

Lee: Actually I made several trades on that one...<gg> But I have been short several of these high flyers as of late. The charts do not lie...<gg> Regards, LG

To: Lee Lichterman III who wrote (24169)	8/30/1999 4:55:00 PM
From: Matthew L. Jones	Read Replies (1) \| Respond to of 99985

Lee, Are you trading odd lots? The exchanges have strict rules about trading around customers. That is the whole purpose of having an exchange, so that your orders are properly represented in the market. Your broker may not be getting your order to the exchange. Who do you use? If you print a time and sales for when you place a market order or a limit order at the market (which is safer) you can force your broker to fill you if the market was at your bid (or offer) within a two minute window. Just a thought. I know when I tried Webstreet Securities (those guys are a bunch of thugs), I would never get a fill unless I didn't want it. In fact most large firms that receive payment for order flow are working more for the contra party than they are for you. Another idea is to place your order FOK (fill or kill). Sometimes when I am trading an illiquid market like QQQ options, I've found that if I put a bid out for about a minute, and then I cancel it (like I changed my mind), often times the floor broker will force the option on me (Brer Rabbit, please don't trow me in dat briar patch!). They don't realize that I only cancelled to get them to put up or shut up. Technically, if they (MM's or specialists) quote a market, they have to honor either side. That's why they make the big bucks. So lifting your bid is kind of like sending them a "going, going, gone". Often times I will even go through that bid, lift, bid, lift, bid three or four times before somebody takes the bait. I figure it doesn't cost anything to place or cancel orders, just to execute them. Actually, I learned about this when I daytraded and every 1/16 counted. Maybe one of these ideas will work for you. Matt