Member/Odd Lot Trading by Arthur A. Merrill, CMT
ARTICLE SYNOPSIS ...Member/Odd Lot Trading by Arthur A. Merrill, CMT
Stock exchange members, the group that makes up the member trading statistics, should be more knowledgeable than the rest of us, the great ""public."" The members should be smart money -- at least, they should be smarter most of the time.
In recent years, the odd lot market has been used by large operators to avoid tick change rules. Usually, though, odd lot trades represent the operations of a group not as knowledgeable as the exchange members. A comparison of the operations of smart money with those of the not-so-smart could be useful. If so,...