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Strategies & Market Trends : Angels of Alchemy -- Ignore unavailable to you. Want to Upgrade?

To: amadeus who wrote (16413)	10/10/2000 9:54:06 AM
From: LPS5	Respond to of 24256

then we aren't watching the same level 2 LOL. Its far more likely that, like the overwhelming majority of the people who've planted a NASDAQ montage on their screens in the last few years, somehow looking for some advantage, you've instead confused yourself further and have no idea what you're looking at. A dealer at the bid is not necessarily a buyer, nor is one on the offer automatically a seller; most importantly, one buried several levels below (or above) the NBBO is not always idle or inactive. Sometimes far from it. If you can't see the desk(s), you simply have no idea what's going on; Level II gives the image that the dealer wants you to see: no idea what orders he's handling via internalization, what tickets are landing in his little basket or coming up on his screen, or what institutionally-sized orders are being worked by him or the firm's sales traders. LPS5