Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Momentum Daytrading - Tricks of the Trade -- Ignore unavailable to you. Want to Upgrade?

To: Dan Celestino who wrote (1092)	6/7/1998 12:11:00 AM
From: steve goldman	Read Replies (2) \| Respond to of 2120

Look, price improvements are by no means guaranteed...if you are buying and the stock is going higher, its going to be hard to buy at 5, its that simple. but in the example you presented, SOMEONE is selling at 5 to a buyer at 5. Why shouldnt you have a chance, a shot at buying at 5? not buying when its 4 7/8 x 5, bot at 5, your limit, when its printing at 7/8... If MLCO or NITE is buying at 5, why shouldnt you? or perhaps 5 1/16...and if someone is selling at 5 1/8, why shouldnt yo be able to sell at 5 1/8 ...not at 5 1/8 when its 5 1/8 x 5 1/4 and people are alrady paying 1/4 or 3/16. That is what a price improvement is about. Anyone of our clients around these would verify thats not only does it happen, it can happen regularly. Exactly how often? No such answer...you selling and stock is flying...maybe you get an improvement on every single lot you sell...stocks tanking....we'd be hard pressed and tested just to getyour stock sold. The point is, if you gave MLCO, ETRADE an order to sell 5k at 5 1/8, you turn and see stock flying, lots of bidders, offers moving higher quickly, you know, disappointedly grimacing what your report is going to say.... If there role is to make markets...every dollar extra in your pocket is right out of theirs...its that simple...yet some want them representing you in an active, dynamic, market that they themselves control.... Such participation in the markets isn't illegal, they are legally entitled to do it and disclose this in fine print and don't explain the disadvatnative to client (which I have an issue with). Infact, to an extent, its a great business. You get clients order, you work them and mark them up...you might even say i'm jealous. But our firm maintains its approach because its 1) good niche and 2) the only business model we could live with...how do you spend time with someone, work with them for years, and yet know that on each trade of 1000 shares you are taking $125 from them.. -Steve@yamner.com yes, i am saying you have reasonable odds of getting it at $5.