Chuck,
I'm not arguing that institutional ownership isn't increasing... it's been rising steadily all year... the point was that they will sell, and they will buy. You've seen yourself how sometimes the # of institutions changes and the shares don't, or vice versa. It's no sweat if one is letting go or adding a little bit, the problem comes if they all want out at once, and that isn't happening. I think there is a danger in telling people institutions arn't selling... if it comes to light one did, everyone will freak because so much emphases is placed on 'they never sell'.
They are just as evil as the mm's... they'll take profits and rebuy later at a lower price... least the one's from England will/<g>
Re level II... I'll be glad to share what I can. Jack is the expert in that department... I'm hoping he'll help me a bit. I don't have a scanner, either, so I can't post like him. One thing I saw the other day... Bob Jagow commented on why it wasn't rising above 5, think it was Tuesday. The reason (as I see it) was there was too much size there. With regular quotes, we only see the best bid/best ask, and their sizes, which might be 10 x 10... but with level II, you see that under mm #1, there may be 10 more with asks of 5, some with bigger sizes, hence why it can't go through. It has to go through all of them before it goes to next, so the sizes are actually different than what you see on a quote service. Does that make sense? I'm still learning, but it is fascinating, and I can even day trade now!<vbg>
Just post to me if I can help ( or if Jack isn't around!<g>)
Best,
Kim |
