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

To: Street Walker who wrote (445)	4/7/1998 11:03:00 PM
From: jerryf	Respond to of 1086

Some questions from a newbie. There are brokers that provide level II plus Island, ESOS etc.,etc. for a cost of 250.00 per mo. From what I understand you can trade between the MMs. Now what are the disavanges of these systems? Atain,Momentum and several others, but the Price varies from 1-10, and all systems are about the same, I think? Could some of you comment?

To: Street Walker who wrote (445)	4/8/1998 1:24:00 AM
From: ojai	Read Replies (2) \| Respond to of 1086

StreetWalker- I second that! I am interested in the mechanics of levelII and how to understand it better. I'm curious to know how to follow the dominant MM on a stock(the hammer, or ax?). I've seen them move to best bid, buy a bit then drop a few levels, back to best bid, etc. On the ask, they don't get to best ask, usually staying away by a few levels. Would you consider this to be bullish on the price? Also, I have noticed on occasion, that a MM might make a large offer at bid (160) instead of the usual 10, and I would interpret that as strength, which would push the stock up. But I have seen them just as quickly reduce the bid from 160 back to 10, and pull the rug out. Would it be fair to say that this is normally a sucker play, and if they had that much to move, they would go through INCA and conceal their motives? -ojai