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Technology Stocks : Jabil Circuit (JBL) -- Ignore unavailable to you. Want to Upgrade?

To: WTMHouston who wrote (3526)	4/3/1998 12:24:00 PM
From: Lawrence Burg	Respond to of 6317

You feed the MMs, even though they control you. They may also have their own shares affecting the spread volumes. The level of their personal involvement is, of course, tied to the stock's price, volatility & volume. "Short term" depends on the volatility/voulme of the trading also. This indicator on pennies is not that useful, you'd need to step up to Level II which affords slightly more predictive value. Before I bungle this anymore, go here... fool.com See ya. LB

To: WTMHouston who wrote (3526)	4/3/1998 12:51:00 PM
From: The Vet	Read Replies (1) \| Respond to of 6317

Troy, my experience with NASDAQ stocks is that the volume indication is the total offered by the largest single order. The MM's generally only Bid or Ask the minimum when they are making the market. (So they can duck away if the market moves!) Any number greater than the minimum parcel is a reflection of orders from the market held by the MM's or shown on other systems such as Island. I do note that Island orders at the same price are always added together to give the volume as the total offered on Island but they are not added to the Bid or Ask from any other broker. I don't know if that is the case with other participants. As a result 10 orders to buy 1000 shares each on different systems would show as a Bid volume of (10) but a single order of 10,000 would show as (100).