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Strategies & Market Trends : SOES Trading -- Ignore unavailable to you. Want to Upgrade?

To: Jay Morrison who wrote (1211)	1/23/1998 2:16:00 PM
From: Michael Friesen	Respond to of 1618

Jay, Level II is still an advantage in that it allows you to see where the "big players" are making a market - eg GSCO (Goldman Sachs) is Microsoft's chief investment banker, so I always watched what they were doing when trading MSFT. Also you can see how "deep" a market is for a given stock. You can also get information overload. The daytrading book by Friedfertig (see the Broadway Consulting site) suggests that when using the Watcher software, a trader should not look at the individual stock's level II quotes. Rather watch the "ticker" which shows Level II changes for all stocks (that are on your personal list) when those changes occur (see their website - they have screenshots I think). This way, you are alerted to opportunities in other stocks that you might miss if you stare at a single stock for too long. Michael