Nanex Research

Nanex ~ 19-Dec-2012 ~ How Algos Say Goodbye

Every day, right after market close, many trading algorithms begin fading their bid and offer prices (lower bid price and raise ask prices): sometime to extreme prices. For example, the ask price for a stock might be raised from $50 to $5000 a few cents at a time, and maybe 100 times each second. The charts below show ask prices for all 8000 NMS Stocks for a 27 second period starting right before market close. Each chart zooms out in price from the previous one.

Click Start/Stop to run a slide show of all 5 images, or Prev/Next to step through them one at a time.

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