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Strategies & Market Trends : Trading For A Living

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To: Street Walker who wrote (738)	7/6/1998 2:03:00 AM
From: funk	Read Replies (1) of 1729

You might be more than half right.... Level II also helps one determine how much support and resistance there is at a given price. If I bring up a screen on a stock and see 1 market maker at the bid and 15 at the ask, that tells me there is a lot of resistance and little support. Market Makers are lined up to sell. Its a useful and needed tool. I have found at times that just the opposite is true. The MM's all line up on the offer and just when the bid is surely going to cave, up we go. It is hard to use sweeping generalities,when so many variables exist. Level II behavior is subject to the stock, the time, the news, and most importantly if the MM's are short or long. I use level II on every nasdaq trade, but they always take the back seat to the charts. The charts are my indicators, the level II is just part of the execution system. my $.02 funk (c :

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