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Microcap & Penny Stocks : Dollar and Under Sleeper Stocks
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To: Alan Coccio who wrote (1813)11/8/1997 11:38:00 PM
From: Esteban  Read Replies (2) of 8835
 
Al, Muchas Gracias for the PC Quote tip! I can't wait to use this technique next week.

Regarding your thoughts on sell orders between the spread causing downticks, aren't you observing the new display rules in action. If you place a limit order to sell between the spread and the MM's don't fill you, the inside spread will change to represent your new lower ask. Or am I misinterpreting the scenario?

As for interpreting what might happen as a result of fills between the spread where the new display rules apply, here's a few thoughts. Buy orders whether between the spread or not indicate demand for the stock, but the fact that an MM doesn't want to publish the fact he is selling and at the same time is willing to sell for less than the ask price could mean he has a lot of stock to sell and is anxious to sell it before the price drops as a result of his orders. Watching the movements of the MM on level II may give a clue as to when this is the case. If a prominent seller of the stock pulls his ask but the buy orders are suddenly filled between the spread, I would be suspicious. I'm sure there are lots of other interpretations of the significance of between spread fills. I'd like to hear yours or others musings. Now that I know how to monitor these trades as buy or sell, I'm looking forward to learning their significance.

BTW, how has your S&P Quote feed been handling the volume of recent weeks? I've found that PC Quote works well most of the time, but when the volume surges, the quotes can lag by as much as a minute or two.

Thanks again,
Esteban
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