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

To: Wayners who wrote (8976)	6/16/2000 5:49:00 PM
From: Jon Tara	Read Replies (2) \| Respond to of 18137

Wayne, then I am a pig as well. And a lot of the other traders on this board. HRZG is one of the payment-for-order-flow companies. Lately, they are willing to represent customers at the bid/ask, even though they don't make a dime on such a transaction. (They do it because it allows them to make a deal with a broker for all of their order flow, or a substantial part of it.) For example, whenever I want to just bid the bid or offer the offer, I will go with my broker's (Preferred Capital Markets) "$7.75 trade" option. While that rarely gets me a full fill on a marketable order, it does get my order listed when it is not marketable but is on the other side of the inside market. (Why pay more?) More often than not, my order is represented by - you guessed it - HRZG. (But sometimes NITE and sometimes INCA.) The "backing away" that you see might be nothing more than individual investors pulling their bids or offers.