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

To: Dan Duchardt who wrote (13508)	8/12/2001 3:44:57 PM
From: Apakhabar	Read Replies (1) \| Respond to of 18137

Hi Dan, Would you not concede that your perception is one thing, but your conclusion is another? Specifically, why should "a number of trades going off at the ask [indicate] a lot of buying pressure...."? The key word is pressure. You noted buying at the ask. That's a perception. "Pressure" is what you concluded that buying meant. Yet when the stock went down, you're calling into question not the validity of the "pressure" but rather the validity of the "buying." If you prefer to think of noting the "pressure" as also being a perception, and not a conclusion, that doesn't change the fact that it is a separate perception, i.e. "buying pressure" is not one perception but two.

To: Dan Duchardt who wrote (13508)	8/12/2001 3:52:56 PM
From: LPS5	Respond to of 18137

Hey Dan, Oh, I understand - I just figured I'd mention that for anyone reading. You may have nailed what the actual situation was in your two guesses, though having not seen it I'd be in a poor position to weigh in. That's another of the reasons, incidentally, for which I believe that the introduction of Level II to the mass market, long lauded as the harbinger of some new age of level play, may be a curse in disguise (whether for everyone or just those individuals who abide by its' oscillations): the illusion of omniscience. Worse yet, the representation of its' situational all-inclusiveness by some of the horrendous interests orbiting the daytrading industry these days. Well, not for much longer, in some cases. Very few things are easy to pick up with any certainty via Level II; most are not. Not just for retail folks, but for proprietary traders and dealers, too. It begs the question of which is 'better': total darkness, or shifting fog? A matter of individual opinion, really. LP.