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Strategies & Market Trends : Level II Trading

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To: Harold Feller who wrote (1050)	8/4/1999 3:48:00 PM
From: Diddlysquat	Read Replies (2) of 1086

I have been watching Level ll thru Q-charts since Feb. and see no value at all. The information is either inaccurate or simply false. It is not uncommon to see overwhelming support on the bid side and weak resistance on the ask side followed by 4 to 5 times the ask trade and the bid side cave in. I have seen less then 1000 on the ask side and 50,000 trade in small increments with no change in the ask. Just watch time and sales and witness the difference between level ll and the real world. Often level ll is being used as a tool to trick the day trader. I have seen 1,000,000 + shares sit a few ticks down to turn the market and vanish when in danger. I truly believe level ll is a fraud. IMHO. bd

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