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Strategies & Market Trends : Momentum Daytrading - Tricks of the Trade
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To: Ken Wolff who wrote (783)3/24/1998 11:56:00 PM
From: Darren  Read Replies (1) of 2120
 
Between this and your screen shot, am I to understand that you don't use level II boxes? That's a PC Quote feed and I see you have Level II access, but based on your description, I am inclined to believe that:

a) the pause could just as well be from the data "waiting" to flow through the internet to your modem,
b) reading time and sales as you described could lead to total disaster, especially when, for example this happens:

Bid 20 1/4 Ask 20 5/16
20 1/4
20 5/16
20 5/16
20 1/4
20 1/4
...INCA downticks BID
...GSCO downticks ASK
New Low Ask
Bid 20 3/16 Ask 20 1/4
20 3/16
20 3/16
<pause>
20 1/4
20 1/4
20 5/16
20 5/16
20 1/4
[Buy 1000 ALPO 20 5/16 GSCO]
20 3/16
...GSCO wipes out all buyers at 20 3/16.
New Low Ask.
Bid 20 1/8 Ask 20 3/16
[Insert Frantic Sell Order here]
20 3/16
20 3/16
20 1/8
...
20 1/16
...
20

Just wondering...

Darren
darren@odessanet.com
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