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Strategies & Market Trends : The Final Frontier - Online Remote Trading
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To: steve goldman who wrote (3970)5/6/1998 9:07:00 PM
From: jlonj  Read Replies (2) of 12617
 
"As well, the greatest advantage of the NYSE is the liquidity, the depth of the bids/offers. For example, if i were to buy a stock at 34 1/4 and did so because of a 40,000 share bid at 34 1/8, I can feel comfortable that in fact 40,000 shares would have to be sold at that bid for me to lose that bid. Clearly, the bidder could step away, but in putting that bid out there, the bidder risks getting hit."

How do you know what is in the specialist's book? I thought that was not available.

Steve, one of the things I've learned since lurking in one of the trader's chat rooms is that few daytraders seem to have much capital. I'm guessing that most of the chat participants are working from $20,000 at most. Is that sufficient capital for momentum trading?

I also am increasingly coming to the same conclusion about concentrating on the NASDAQ and the lure of level 2 action.

When you complete your article, could you please post it in a variety of SI threads?

Thanks.
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