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If Level II for a given ticker is showing that the top ten sell orders currently displayed total 25,000 shares. Then a buyer were to enter a market order for 25,000 shares, would the order "buy up" the top 10 orders on the Ask with a corresponding increase in share price? Obviously, some of the sell orders would probably be synthetic, but for purposes of the question, let's assume that the totals showing are actual.

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    Yes it would - but what's the point? You could still only sell them as the bid price, so the "increase in share price" would be somewhat artificial. – D Stanley Mar 23 '17 at 19:10
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Yes. Your demand for shares reduces the quantity supplied at the ask price. If you purchase all of the shares supplied at that price, the next share purchased will have to be at a higher price unless a new seller comes online.

  • Or unless there are hidden and other similar orders in the market. – Victor Mar 23 '17 at 19:45
  • Thanks... The point is that many first hour chat rooms are watching the same tickers at the open. A bit like eagles waiting for any sign of motion below. When a ticker pops, the Ask strips as the price rockets higher. When analyzing what happened, there is often a pretty good amount of "air" in the Ask just before the pop. Then, you see a sudden rush of larger orders. This rush lights up T&S and Level II sending a "game on" message fueling an already smoldering fire. Would love to connect with other day traders to share ideas if anyone knows of such a group. – Mackeymack Mar 24 '17 at 13:33

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