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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: Rick Faurot who wrote (3446)	8/31/1999 11:20:00 AM
From: Tai Jin	Read Replies (1) \| Respond to of 18137

Rick, You should use the Java version of the ISLD book - it updates dynamically. When I've seen a large number of equal sized bids appear below the inside bid, they usually represent "fake" orders. Whoever put those orders in is bluffing. As soon as the market gets close they disappear. Sometimes they are not fast enough in cancelling their orders and some of them get filled. But it's a scare tactic designed to show strength when there really isn't. ...tai

To: Rick Faurot who wrote (3446)	8/31/1999 11:49:00 AM
From: Eric P	Read Replies (1) \| Respond to of 18137

Rick: I put up the ISLD book today and compared it to my L2 on AMZN from the open. As all of you said, my L2 was lagged about three seconds behind the ISLD book. It would be great if the ISLD book wd update automatically. As Tai Jin mentioned, the Java Version of the ISLD book updates dynamically throughout the day. After the first hour, it appears that L2 is even with the ISLD book on updating. This would surprise me. The ISLD book should always be 1-3 seconds faster than Nasdaq Level II for posting the inside ISLD quotes. Perhaps during the busiest times, the delay is closer to 3 seconds and during more quiet times, the delay is closer to 1 second. One thing that was interesting was that occasionally major ISLD offers never appeared on my L2. I guess they were hit internally though this seems odd since they were large positions not close to the inside bid. The ISLD book quotes that you saw were likely "subscriber-only" quotes. These quotes will never be displayed on Nasdaq Level II, but are displayed on the ISLD book. More detailed information about this can be found at #reply-9995262. Good Luck, -Eric