|
PureBytes Links
Trading Reference Links
|
I had hoped to replace my Fidelity Select Funds with sector SPDRs. Last
week - I tried to do a couple of trades on fairly quiet market days. No
problem buying. But trying to sell 400 shares of XLY (about $10,000)
took me over an hour - and required my changing my order from "all or
none" to "no conditions" even though my limit price was the market bid.
IOW - IMO - the specialist wasn't willing to assume the risk of taking a
400 share block into inventory for a while. He was just moving the
position I had for sale 100 shares at a time. Conclusion - most of the
sector SPDRs aren't ready for prime time yet - not enough volume. Robyn
|