DD Support Board and Research Team

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First off, I traded back during Wall Street days when Wolf and Blue Horsehoe with green screens, tickets, quotron, and time stamps, I also traded during the automation.

During paper era, either at the end of the day or before the open, I had to organize my orderflow to ensure order ahead. Today, the software does that for us. Nobody jumped ahead of you at your firm, and if they did, if they got caught by a FINRA audit, that could mean a fine and like you said, for $16, nobody wants a fine.

As far as the beginning of the trading day, many traders are forced to blow out of holdings in the morning, and not the afternoon. Many firms' CFOs will talk to operations and go over the company's financials before the open, talk about net cap requirements, and ops and trading officers will come down on traders with positions to close them out. Some new traders will blow out in the morning. I was an arrogant jerk and blew off my COO and not blow out positions for weeks later.

Every firm is different, and people who jump up and down about naked shorting forgets, firms are just like humans, they have capital requirements.