Best quotes with NADAQ Level II ? Message Board

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Non-Tech : Best quotes with NADAQ Level II ?

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To: pae who wrote (3)	11/13/1997 12:52:00 PM
From: John Hunt	of 33

Hi pae, Although I have been aware of level II for some time, this latest look started with my discovery of this link. nasdaqtrader.com This shows the average trading of each market maker in prior months. I asked on the amati thread what value this had and received the following response from Schmedley. techstocks.com <<< I can only speak for myself (thanks Jim from me too) but for people like me who watch the NASDAQ Level II quotes, it shows us who the real market makers truly are ie, the ones with the largest positions. When we see them occupy the top of the list on either the bid or the ask, it serves as an affirmation of their conviction or lack thereof. When one observes the bigger MMs do an about face, it is a pretty good indication of an imminent change of direction (at least for the short term) In a stock of this size there is usually only one or two Alpha Dogs so it's nice to know who they are as the rest are sheep and will change their tune at the drop of a hat. >>> I thought this response was very interesting and that I would see if anyone else could tell us exactly what they are watching for. Thanks ... I really appreciate your response and will study the example in more detail. John

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