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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: LPS5 who wrote (4747)10/6/1999 12:49:00 PM
From: Time Traveler  Respond to of 18137
 
Looking at L2, I notice that the price tends to walk away from the order with larger amount of shares. For example, if there are 10,000 shares bid at $82 1/2 and 1,000 shares asked at $82 3/4. Then the next tick has a higher probability of taking out the ask price.

Now, for some one who has a large capital, couldn't he/she just buy (say) 10,000 AMZN at the market, then place another bid of 10,000 (on L2) just one or two levels below the current traded price to drive the price higher? Is this legal?



To: LPS5 who wrote (4747)10/6/1999 2:27:00 PM
From: brec  Read Replies (1) | Respond to of 18137
 
REDI (Spear, Leeds & Kellogg's ECN) also has an external order routing/execution feature for marketable (what they call "proactive") orders.


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