Novell (NOVL) dirt cheap, good buy? Message Board

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Technology Stocks : Novell (NOVL) dirt cheap, good buy?

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To: Spartex who wrote (20140)	2/13/1998 1:00:00 PM
From: Serendipity	Read Replies (1) of 42771

Hi Quad-K: Thank you for your posts... IMHO, it is difficult to to interpret MM's every action with certainty. Level II will help, but is no guarantee! To my knowledge, big institutional investors usually buy at the bid, because MM's work the market for big clients. Another consideration is the "late reporting" by MMs--after they move the Bid/ask-- to hide the true nature of a trade. Double reporting is another confusing part of OTC. Swaps, trades between the spread and "trade-boundling" need to be considered as well. As a general rule, I do not view a large block trade significant,if it DOES NOT move the bid/ask. The action is analogous to Stud Poker, where only INCOMPLETE--INFORMATION is available and lots of guess work is needed. Offerred for your consideration. I am sure there are others who know the "illusive" world of the market making better than I and will enlighten us. Thanks very much... ;-) Reagrds, Seren.

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