Re: stepping in front of size

["Kent Rollins" <kentr@xxxxxxxxxxxxxx>]

Isn't there a 5 minute rule on trading in the same direction on the same
stock on the NASDAQ?

Kent


----- Original Message -----
From: <Sigstroker@xxxxxxx>
To: <omega-list@xxxxxxxxxx>
Sent: Sunday, May 19, 2002 5:54 PM
Subject: Re: stepping in front of size


It's no longer relevant, imo. It may have been, several years ago when
Cooper
wrote that book. But these days, most big orders you see are "spoofed". They
vanish when prices get near, or a few thousand are filled. When somebody
does
want a lot of stock, they usually hide it. Would you tell the whole world
that you wanted to buy 20,000 shares of something? It's easy to hide big
bids
now with Island, Redi, Arca, etc. You just set it to show 1000 and then
auto-refresh every time you're filled until your whole amount is filled.

In a message dated 5/15/02 7:53:48 PM Pacific Daylight Time,
mr_bond@xxxxxxxxx writes:

<< List,

 I am curious to know if anybody trades that Jeff Cooper idea of "stepping
in
 front of size"?  How much success have you had?  The idea is one of the
only
 daytrading strategies I've seen that makes good sense to me.  My
 brother-in-law is a fund manager and he says that when his firm is trying
to
 accumulate a large position in an illiquid stock that it can often take
days
 or weeks and that yes, big orders will move the market like Cooper says.
 Any comments?

 Thanks,

 David
  >>