If you track dark pool orders, make sure you are able to track dark pool cancellations too. For a trade to take place, a resting bid, or buyer, has to be present when a seller initiates a sale. Many times both sides are not present at the same moment as orders are cancelled and replaced, these orders are referred to as “ships passing in the night”.

Check out the ships passing in the night action on CZR stock on December 5, 2019.

Make sure your dark pool orders tracking system also has the ability to track cancelled dark block orders. If it doesn’t, you would have completely misread today’s dark pool action in CZR stock.

Click here to check out the tool I recommend for excellent tracking of Ships Passing In the Night trades over dark pools.