DAYTRADING Fundamentals Message Board

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Strategies & Market Trends : DAYTRADING Fundamentals

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To: Mark Davis who wrote (5602)	11/21/1999 11:29:00 PM
From: OZ	of 18137

Aha, so you're the guy that was able to get executed at 38, while those poor saps were having to pay 40 for the same shares only 5 seconds later I preferenced below the offer to get a quick fill and executed an island FOK order against the Subscriber Only Island offer. The offer literally stood there for over 30 seconds before I acted since most people could not even see it. The stock only went up another 1 1/2 for the day and it took another 40 minutes to do that. The IPO had been open over an hour already. I am only telling you what actually happened. The only assumptions made being made are yours, (that 5 seconds later the stock rose 2 points and that the if ISLD bidders have crosssed the market it means they must be right and the stock is rising). The whole point of the post was to show the importance of reading level 2 and island book to get better fills. This just happens to be the most exaggerated example. Though I FREQUENTLY get good fills on crossed markets by reading the Subsriber only bids and offers. regards, OZ

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