optgtrader

The problem with your rules is you will eliminate instits. from dealing in the mkt. & that is not good for retail investors like us. The procedure is an instit. calls his favorite broker & says he wishes to sell 500,000. at 9.40. The mkt is 9.39 bid for 3,000 shs. & 6,000 offered at 9.40. The broker finds a buyer but only at 9.30. It appears you would not allow a 500,000 trade to take place by filling the small orders between 9.39 & 9.30 even though they total just 30,000 shs. It appears you would force the instit. to sit on the offering at 9.40. Do I have it right so far? The effect will be you will not have nearly as many instits. in low volume issues such as ARU. because of their inability to deal quickly & efficiently & that means less buyers & a lower price. Why should a 3,000 sh. order have more weight than a 500,000 sh. order? I fail to see how the word "manipulate" comes into this equation. Everything that took place today is perfectly legal. What alternative do you suggest for dealing with large blocks?

Regards

Joltin