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Re: J.T. The DD King post# 8045

Friday, 05/09/2014 3:27:20 PM

Friday, May 09, 2014 3:27:20 PM

Post# of 57077
Give up?

This might help with regards to the ZERO questions.

1.) An Axe or Hammer is the MM on the top of the Ask or Bid in control.

2.) Bid jumping is an order filling out of sequence. For example, in this case MM WORL was in first position on the Bid. ERTF was in 2nd position and the order was filled to ERTF when WORL was first at a higher price.

3.) VFIN is a specialty MM that only trades wholesale. When VFIN came on ZERO it was to sell a prearranged order open market.

4.) TOS is Time-of-Sales. TOS is accurate & matters, L2 is not.

5.) A Block trade is a large trade usually by an institution or wholesale broker.

6.) AON is All-or-None and can be a secret way to trade out of sequence (Bid jump). For example, if the last trade was $1 and you wanted to sell me 550 shares at $.70 open market. You could put in a sell order for 550 shares at $.70 AON and if someone puts in a buy order AON for 550 shares at $.70, the computer matches them and executes the order regardless of Bid/Ask quotes or last trade prices. AON is hidden and will not show on L2 until executed.

The answer to the question of how is a buy or sell marked under those circumstances is; It's considered a "Buy" order since it was sold wholesale and purchased retail, which unfortunately really makes your post slamming me sound uneducated & silly. Sorry.

As you should be able to now see, "Sells" really can actually be "Buys". GLTY!