Nanex Research

Nanex ~ 06-Nov-2012 ~ OCN Patience

On November 6, 2012, the stock of Ocwen Financial (symbol OCN) illustrates the cost of patience.

1. OCN ~ 1 second interval showing trades color coded by exchange.

2. OCN ~ 1 second interval showing bids and asks color coded by exchange.

3. OCN 100 millisecond interval showing trades color coded by exchange.
You need a resolution below 1 second to clearly see the 3 price drops.

4. OCN 5 millisecond interval showing trades color coded by exchange.
First drop.

5. OCN 1 millisecond interval showing trades color coded by exchange.
Second drop. Note the delayed trade reports coming from Edge: this is common when trading activity gets too fast.
The exchange will have to fix this or risk being fined by the SEC.

6. OCN 1 millisecond interval showing trades color coded by exchange.
Third drop. Chart shows 1 second of data.

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