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Non-Tech : Meet Gene, a NASDAQ Market Maker

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To: gene_the_mm who wrote (12)7/25/2000 10:50:13 PM
From: Janice Shell  Read Replies (2) of 1426
 
We all read endless numbers of posts by soi-disant "traders" who've signed up for Level II and claim they now know every move the MMs are making. (Usually they tell us that they're "walking it down"--but never up, why not?--or "doing the usual headfake", or the like.)

My own impression is that most of the time they haven't the faintest idea what they're looking at, much less what they're talking about.

What are the normal mistakes of interpretation people with Level II are likely to make? And what important activity CAN'T they see?

Should they put as much faith in their Wonderful New Toy as they invariably do?
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