DAYTRADING Fundamentals Message Board

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Strategies & Market Trends : DAYTRADING Fundamentals

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To: TraderAlan who wrote (5243)	11/7/1999 5:25:00 PM
From: Richard Estes	Read Replies (4) of 18137

I really must not understand process. I assert: Given you can sell at ask, and buy at bid, (I do this 90% of time). There is no way to know what is a buy or sell. Given that there is no indication as to a long or short, there is no way to determine direction of trade. Given that a MM can act on his own or for a customer, there is no way to tell who is making trade. Given repeated reports of collusion between MMs, there is no assurance info is correct. Are my assertions untrue? The only trades we can confirm are our own. The use of charts and T/S provides trades and direction of price in trades. Isn't one fooling himself to imagine that the "story" they perceive to being played out in level II is reality with the scant information. Getting lost in level II, seems to bring in the emotions of a battle being fought, when what we see is 1000s of decisions being made for 1000s of reasons. We imagine that MMs know we exist and are there to defeat us. The 13,500 shares of ANCR sold at 49 friday, might have been bought at 1.00, by a little old widow in Aug 98. She decided she would sell to buy a boy toy. I can be wrong, but I wish someone would tell me where my assertions are wrong.

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