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Technology Stocks : AUTOHOME, Inc
ATHM 23.66+0.8%Nov 24 3:59 PM EST

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To: gpowell who wrote (20488)4/1/2000 1:24:00 PM
From: M. Frank Greiffenstein  Read Replies (1) of 29970
 
Nice graphic illustration of an order book, gpowell. But novice readers should understand this: The order book (defined as all limit & "fill or kill" orders) is not open. Any Naz dealer can only see one limit order at a time, the one closest the current best ask or bid. The graph may truly reflect the distribution in volume and price of all limit orders, but don't be misled into believing that such a distribution is viewable.

SEC boss Levitt has asked Nasdaq and NYSE to open up the order books so everybody can see where the orders (e.g., landmines) are.

DocStone
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