Matt,
<i?Jay, what service do you use for NASDAQ Level II? Do you see much large block accumulation?
I spend a good deal of time at a local Detroit daytrading firm. They have direct links to Nasdaq. They use Real Tick software.
Good question re accumulation. Until yesterday (Friday) I saw none at all. (Note that this isn't foolproof, as I only spend too much time watching Cymer, not every minute. <VBG>) Although there were several large trades in the past couple of weeks, it was tough to tell what they were. Many were between the bid and the ask, making them likely flips between market makers. In summary, nothing that was obvious.
However, yesterday was the first time that several times I saw five and ten thousand share bids on instinet. I think that that's a good sign.
Also, yesterday, Morgan Stanley, who had been in hibernation for a while, seemed much more active. They jumped to the top bid fairly often. And didn't stay at the top ask long. This is another good sign.
Note that while in hibernation, they did seem to sell more than buy, but never for long, which I would say is inconclusive.
I doubt this all helps.
Jay
|
