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Stock gurus.. Explain THIS then
No one seems to be able to explain this one to me
The other day I'm on and off of the bid trying to buy some shares, right, there's trading happening there's volume happening. Right. So I love scottrade, yeah, I'm seeing my bid become high bid on LII instantly whenever I change it. Several times, no problem. My orders are being routed through NITE and some other retarded fucktard or NITE itself has an order for 39k @ say what was it, .0087 Right so that's great. Everything is fine. I get on the bid at .0088 and no one fills my order. So I'm off and back on as high bidder a few times, the asks ain't coming down. Any time I am above the other moron on NITE I become high bid(or at least high bid for NITE- I see my price and block size right away), no problem Now here's where it got funny. I'm sitting there I'm high bid @ 0090 for 40k shares, right, the other idiot as far as I know is still at .0087 for 39k through NITE I move my bid up to .0091 and it instantly disappears and NITE falls back to showing the 39k order he has from some other moron for 39k I didn't put any qualifiers or anything else on my order. At all. Why would moving my bid UP make me disappear? One minute I'm represented by NITE as high bidder for 40k @ .0090, next minute I change my bid to .0091 and I fall off of the bid and see the retard wanting 40k @ 0087 No one on the board I was on has any coherent answer I waited about three minutes to see if my order was going to be represented by another MM or anything else and it never was and the moron got his 40k @ 0090 all meanwhile |
This happens to me often, usually when my bid price is too far from the closest ask price. When I make it closer it reappears.
The other thing is trades above 10K shares, AKA block trades, may be transacted out of the open marketplace and thus I don't think they will always show up on level 2 quotes. |
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I see. The opposite happened to me. I'm sitting there as the high bid. I know it's me because I can make it instantly disappear and reappear. Then I INCREASE my bid and it instantly disappears. |
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