uWink Inc. (UWKI)

[budge]

anyone can use ARCA as long as they pay the fees. MMs use it for disguise. large traders use it because the cost per transaction is so low. but, you are correct that it usually is big money. keep in mind that what you may see on level 2 is not always reality.

folks tend to run from ARCA on the ask when they put up those large numbers. so folks end up selling down to the real buyer.

it can work the other way also. ARCA with big numbers on the bid? folks jump in front. they buy it up to the real seller.

that's not to say that it isn't a legitimate bid or ask, just that there are games played from time to time.

with this stock, the last few days (today excluded) ARCA continuously moved the ask down. as soon as someone sold at bid, down came the ask (it could have been the ARCA player that sold on the bid). if someone bought at the ask, after a little, down came the ask.

no ARCA today.