An NYSE Scalper's Tale - A Trader's Diary

Tuesday, January 02, 2007

Getting Back Into The Full Swing Of Things...

Alright! I'm glad we have today off because I NEED this extra day just to catch-up with everything and to get back down to business.

Last Friday I didn't have any fun at all...I ended the day down $581, mainly due to frustration. Looking back, I know now that it was stupid to be frustrated with the markets for not doing much - it was the end of the year and I shouldn't have expected much.

We then went to the Air Canada Centre to watch the Toronto Raptors lose to the Chicago Bulls and I got back late on Friday.

Then, early the next morning we headed out of town for New Year's and we got back yesterday, but I was too exhausted to do anything market related.

But I'm back and I've got some catching up to do. I'm hoping I have enough time today to get several posts up just to close off 2006 and to prepare for 2007.

I better start crackin'...

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2 Comments:

  • Hi J.C.

    Have all NYSE stocks now been converted to the hybrid system?

    If so have you noticed any difference in trading the hybrid system vs. the old manual system (such as speed of execution, tighter spread, less manipulations…?)

    Thanks and have a happy new year.

    By Anonymous Anonymous, at January 02, 2007 9:23 AM  

  • Anon@9:23AM,
    Thanks for your comments.

    The NYSE is still in the midst of adding stocks to the Hybrid system, but they are now doing them in big bunches (100's at a time now). I think they are almost complete, but you should check hybridtalk.nyse.com just to see how much more they've got to do.

    As far as the differences...I'd have to say that there has been quite a bit of difference in terms of execution, tighter spread and the way stocks move. I find that the hybrid stocks tend to move back and forth a lot more than before. From what I've seen so far, I'd probably have to say that yes, there should be a little less manipulation simply because Hybrid is so fast that people posting fake sizes can easily be filled if they are not careful.

    One particular thing I've noticed is that Hybrid stocks may jump a few cents up or down.

    If you're a longer term trader, I think the changes shouldn't bother you too much, but if you are trading like I do, it can have a significant impact on the way you do things.

    Hopefully that answers your question and good luck in 2007!

    By Blogger J.C., at January 02, 2007 9:48 AM  

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