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

To: OpenMind who wrote (1278)	7/16/1998 4:17:00 PM
From: Wayners	Respond to of 2120

<<Dealers, also known as market-makers, use their own capital to buy and sell stocks for investors when no immediate matching order is available. Yea right. Like they match up buyers and sellers directly. That happens maybe one out of 20 tries, if even that--even when matches can be made more often. Alright so SOES goes away. So now the MMs quote a bunch of 100 share quotes at the bid and ask. Might narrow the spread some on illiquid issues. I think they should have compromised more and instead of going for the 90% drop--go from 1000 shares to 500. Down to 100 is too radical. Looks to me like a lot of partial fill orders in the future. I hate those. I guess its going to have to be a lot of All or None Orders on my side now to prevent that from happening. Better not slow down my exectutions either.