Re: stepping in front of size

[Sigstroker@xxxxxxx]

I don't know if even that's still in place, but when it was, it only applied 
to SelectNet, not ECN's, which is what Instinet, Island, Redi, Arca, etc. are.

In a message dated 5/19/02 7:49:31 PM Pacific Daylight Time, 
kentr@xxxxxxxxxxxxxx writes:

<< Isn't there a 5 minute rule on trading in the same direction on the same
 stock on the NASDAQ?
 
 Kent
 
 
 ----- Original Message -----
 From: <Sigstroker@xxxxxxx>
 To: <omega-list@xxxxxxxxxx>
 Sent: Sunday, May 19, 2002 5:54 PM
 Subject: Re: stepping in front of size
 
 
 It's no longer relevant, imo. It may have been, several years ago when
 Cooper
 wrote that book. But these days, most big orders you see are "spoofed". They
 vanish when prices get near, or a few thousand are filled. When somebody
 does
 want a lot of stock, they usually hide it. Would you tell the whole world
 that you wanted to buy 20,000 shares of something? It's easy to hide big
 bids
 now with Island, Redi, Arca, etc. You just set it to show 1000 and then
 auto-refresh every time you're filled until your whole amount is filled.
 
 In a message dated 5/15/02 7:53:48 PM Pacific Daylight Time,
 mr_bond@xxxxxxxxx writes:
 
 << List,
 
  I am curious to know if anybody trades that Jeff Cooper idea of "stepping
 in
  front of size"?  How much success have you had?  The idea is one of the
 only
  daytrading strategies I've seen that makes good sense to me.  My
  brother-in-law is a fund manager and he says that when his firm is trying
 to
  accumulate a large position in an illiquid stock that it can often take
 days
  or weeks and that yes, big orders will move the market like Cooper says.
  Any comments?
 
  Thanks,
 
  David
   >>
  >>