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navycmdr

06/23/10 10:00 AM

#109607 RE: phunnibone #109605

I most often BUY shares @ the BID or
"in the spread" and rarely pay the ASK ... lol
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yaadmon

06/23/10 11:06 AM

#109613 RE: phunnibone #109605

Thats the thing about Scottrade it shows the buy&sell indicators, the level 1 trade shows sell but the indicator (green) is buys. All of those orders at .01 indicates it was buy orders on the bid. This has come to a familiar term as bid whacking where people is buying on the bid to get the best price. The problem is the MM's have to drop it like a sell. The pps only goes up buying at the ask. I am guilty of doing it myself even though it drops the price. If too much people does it then it kills the momentum as people that cant see the real indicators takes them as dumping.