RE: Move up16 Feb 2024 16:00
The 455k is a buy...
On the subject of Algos... They are getting a bad rap here, HOWEVER let me give the opposite side of the coin, they are acting like Market Makers offering automated trades, on SETS these orders DO get filled and unlike before now they are considered for the spread. Before MMs had total control outside of auctions to set the spread and could restrict all trades, resulting in hard shakes down or spikes with no opportunity to sell. Since the move to SETS? We have not really had shakes, the SP has moved because people were welling to sell/buy, the size available from these automated or limit orders is printed as is the number of shares available.
I dont LIKE the fact the SP has moved down so much since Friday HOWEVER I respect that those with automated trades set up are doing no worse than the MMs and in fact are keeping the MMs honest. If anyone here wants to do the same? Its available via IG.com, declare yourself professional and you can configure your own automated trading patterns, but be warned that comes with risks, in particular if you ever use leverage. I personally will never click that button, the idea of losing millions in a bad trade fills me with dread....