Christopher, I'd appreciate some clarification on a couple of your
posts, which, by the way, I find very interesting.
You stated:
>I find the obsession with marketmaker activity, both here and on
>other SI threads, highly amusing. What MM is on what bid, who is on
>the ask, etc...if you don't have experience in my business, there is
>no way you can appraise or evaluate marketmaker activity by staring
>at a level 2 screen all day.
Yet you recommended the book "Electronic Day Trading". As I recall,
that book places great emphasis on the activities of marketmakers,
such as when one comes up to bid, or goes up off the offer.
I'm not sure what it is you're saying. Is it that level 2 is
valuable, but only to someone who understands it? Or is it that level
2 is really overrated?. Or something else entirely?
Personally, although I don't know the motives of the mm's, I've found
that their activity can be very valuable in anticipating short-term
moves.
Thanks for your response.
Gary |
