TATRADER GIZZARD STUDY--Stocks 12.00 or Less..... Message Board

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Strategies & Market Trends : TATRADER GIZZARD STUDY--Stocks 12.00 or Less.....

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To: majormember who wrote (16213)	4/20/2000 8:29:00 PM
From: TheNoz	Read Replies (1) of 59879

I once thought that Island was a representative indication of what the overall MM book might look like. Some stocks, some times, it seems to hold true. For example, size on the sell at 7-1/2 made it easier for me to put my own sell at 7-3/8 and step in front...same on the buy. Trouble is, some stocks some times the giant order - buy or sell - is gone when I look again a few minutes later, not taken out by the market but withdrawn. Games? If it is true that most Datek customers are small retail with less alacrity to change their orders, then maybe Datek is a retail barometer...but what are 3 and 6 thousand share orders doing there? And how do they get placed and withdrawn so nimbly unless a larger fish with Level 2 (or 3?) and access to all ECN's is placing bait specifically on Island for the unwary? Too conspiratorial to be a regular thing - but I've not done better than 60-40 when relying on Island for anything other than where to buy or sell right at the moment...ten minutes later it changes too often...but then I'm not as good a trader as many on this board!

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