Tokyo Joe's Cafe / Societe Anonyme Message Board

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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme

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To: J. Ramsey who wrote (8259)	8/6/1998 5:17:00 PM
From: NASDBULL	of 8798

Thanks J. Here is a summary of LEVEL 2 for SCHI, looks good for tomorrow recovery!! NASDBULL SCHI: Funny you should mention this one since I was watching it myself earlier in the day after it crashed looking for a good entry point but never did find one. The last five minutes were extremely busy with buy orders and the action looks like it is preparing for a morning upward price gap. The after-market action was not unusual except for a 100,000 share trade at 3 1/8 which looks like a late posting from earlier in the day and a sell order for 55,000 shares at the current bid price. It's trading with a very tight spread of just 1/32 and with just one market maker at the current inside bid and ask. This means there is no direction indicated by their positioning but will very quickly move in either direction based on incoming orders in the morning. The rest of the market makers are spread out in both directions pretty evenly. There are only eight market makers working this stock plus one ECN (Instinet) listing a price on the ask side only. Pre-market action in the morning should be watched for an indication of price direction. I would sell into the upward gap if it happens.

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