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jdfo wrote:
>
> Is it just me or has anyone else been experiencing just terrible fills
> the past two weeks, day trading the SP's? I mean my stops get blown
> right through by 30 to 40 points and my buy/sell stops at times have
> been 50 to 75 points away from initial order. This is a fast market but
> WOW. Had 175 points today in slippage in four trades.
> Any knowledgeable experienced guru's have an answer?
> jdfo
Liquidity is in these pits mostly by independent locals. Everybody
screams about how much money they make, but when they aren't making
money they back away from markets and we get more slippage. The bottom
line is with the recent volatility, the locals get hurt too and that
hurts liquidity. They , by definition, take the other side of big
institutional trades and when it is all one way, they get killed.
Anyway, just my opinion. There was also a good article about it in the
Journal on Tues? Basically, root for the locals to get rich , then they
give you tight markets.
Eric
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