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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium
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To: Mr. Big who wrote (30933)11/20/1999 3:30:00 PM
From: Ellen  Read Replies (1) of 108040
 
That is correct but when watching L2 you need to be careful for those head fakes when the ask is stacked and the bids look weak cause more often than not this wall of worry quickly evaporates (with the hot stocks).

Mr. Big, I'm not sure that I'm understanding what you mean here. Don't have L2 (yet anyway <G>), so I need to ask, by the 'bids look weak' do you mean they've dropped the bid, to hopefully induce selling so they can pick up shares to then sell? Or...there aren't many mm's on the bid so it indicates they just want to sell shares, taking the stock price higher?

If the ask is 'stacked' I assume you mean most of the mm's are close to or the same (?) as far as the inside ask? So they have shares to sell and all want in on it? Or...they just want to sell them as high as possible and buy 'em back cheaper when the 'hot stock' drops? ('Cause they really don't have enough in inventory and know they'll make lotsa $$ when they 'cover' cheaper?)

What do you mean by 'the wall of worry' here...and that it 'evaporates'...? When you see this - ask stacked and weak bids - it indicates the stock will (most likely) proceed higher?

Sorry if these are dumb questions and thanks in advance for your response!
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