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DEFINITIONS Physician-Investors Need to Know
By. Dr. David E. Marcinko MBA CMP®
SPONSOR: http://www.CertifiedMedicalPlanner.org
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| Trading Ahead | Unethical and illegal trading by specialists or market makers. A specialist may buy a stock for themselves from Dr. John Q. Public even though a better price is available from another seller. The specialist can view bid and ask prices and then manually mis-match them, or see ahead to a less favorable price. It happens in this editor’s experience, by observing how long it takes for a stop order to execute after the stop price was reached. This practice is a form of shimming. *** |
| Trading Imbalance | A situation where a large block of stock is put up for sale, but not enough buyers are available for purchase, and a market maker is unable to buy the imbalance. Lightly traded and tightly held stocks are considered temporarily illiquid during such imbalances. On occasion, a trading halt is put into place until enough buyers are available to purchase the deficit. On rare occasion, a handful of buyers can buy the stock at a huge discount if the stock was not halted during the imbalance. On the New York Stock Exchange, large stocks usually have a “delayed open” for such imbalances, as a trading specialist will fill the order by lining up buyers for the block, and then open trading for the stock for the day. *** |
| Triple Witching Hour | The final hour of trading on a Friday when stock index futures, stock index options, and stock options all expire. This happens on the third Friday in March, June, September, and December. See Quadruple Witching Hour. *** |
CITE: https://www.r2library.com/Resource/Title/0826102549
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Filed under: "Ask-an-Advisor", CMP Program, Ethics, Glossary Terms, Investing, Touring with Marcinko | Tagged: Certified Medical Planner™, CMP, David Edward Marcinko, trading ahead, trading imbalance, tripkle witching hour, triple witching day |
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