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Strategies & Market Trends : Level II Trading

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To: David E. Henry who wrote (411)	4/5/1998 9:16:00 PM
From: Darren	Read Replies (3) of 1086

Be very careful of INCA. They like to mask their intentions with huge BUY or SELL orders outside the Bid or Ask, and then just buy 100 or 200 shares, etc. You should only buy on INCA volume when they are on the Inside Bid and nobody is in front of them. Only then can you tell their true intentions. NASDAQ is talking about rules to prevent this type of situational volume masking. So on Friday, they could have been percieved as huge buyers when they were really just trying to shake out the scalpers... Also, if you make an ISLD order on the inside bid and INCA (or some other market maker) refreshes behind you, consider cancelling the order. They are using you as a fodder wall to get a lower price, hence the stock will usually roll down at least one tick before it moves back up, if at all... Just my perceptions of INCA. Darren

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