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For Mr. H

 

 

Sent 10-21-10 to SEC Enforcement Division

 

To Whom It May Concern,

 

I have a question. Why does the SEC allow high frequency traders/co-location traders/etc., to front run retail orders every day in almost every security? When I say front run, I mean the practice of utilizing sub-penny orders whereby these so called traders step in front of real bids and offers by 1/100th of a penny to get the trade done, knowing there's a bid or offer right behind them. This has happened to me at least fifty times in the last year. It is particularly a problem on illiquid issues in which the sub-penny order that front runs my orders may be the only business done at that level. And so my order just sits there and never gets filled.

 

This exact scenario in fact happened again today, as I was a 700 share bid at $6.10 in PROV from 11:39am till the close. At 2:26pm 450 shares were executed at 6.1007. On 450 shares that is equivalent to just 31 cents better than my 6.10 bid. And that sub-penny trader got the order instead of me because they were able to front run me without even showing a bid in the market (i.e. the 6.1007 print just magically appears on the tape with no bid having been shown there in the Level II system). I would gladly have paid that price, but of course I'm retail and cannot use sub-penny increments.

ZH

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w?s=%5EAORD

 

 

Forever sideways. All Ords closed with a gain of +0.5% with sectors in a narrow band from Healthcare +0.8% to Gold -0.4%.

 

Nothing riveting happening in Asia: China +0.4%, Honkers -0.2%, India +0.2% and Nikkers +0.5%.

 

 

On to UK/Europe:

 

 

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image;size=239x110

 

 

 

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For Mr. H

 

Sent 10-21-10 to SEC Enforcement Division

 

To Whom It May Concern,

 

I have a question. Why does the SEC allow high frequency traders/co-location traders/etc., to front run retail orders every day in almost every security? When I say front run, I mean the practice of utilizing sub-penny orders whereby these so called traders step in front of real bids and offers by 1/100th of a penny to get the trade done, knowing there's a bid or offer right behind them. This has happened to me at least fifty times in the last year. It is particularly a problem on illiquid issues in which the sub-penny order that front runs my orders may be the only business done at that level. And so my order just sits there and never gets filled.

 

This exact scenario in fact happened again today, as I was a 700 share bid at $6.10 in PROV from 11:39am till the close. At 2:26pm 450 shares were executed at 6.1007. On 450 shares that is equivalent to just 31 cents better than my 6.10 bid. And that sub-penny trader got the order instead of me because they were able to front run me without even showing a bid in the market (i.e. the 6.1007 print just magically appears on the tape with no bid having been shown there in the Level II system). I would gladly have paid that price, but of course I'm retail and cannot use sub-penny increments.

ZH

Could this be a just a report trade for an internalized crossing? i.e. done off market, no bid shown? :mellow:

 

p.s. Hope you're still reading along Hanky :)

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Hollas all over the place. Don't tell me weekly options has nothing to do with some of this crap.

 

Scamazon missed twice and Jeffries upped it to $ 195 A bunch of other firms raised targets but downgraded.

 

Bye Doo multiple holla

 

Chit Pole multiple hollas

 

Edit. Samazon just went vertical..RBC Holla 188

 

Dollar down Rockettes up

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