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To: Brooke Geiger who wrote (7347)	4/25/1998 6:18:00 PM
From: jwk	Respond to of 7703

Brooke -- elk laid it out very well. He neglected to mention, though, that the reason the traders could catch the bounces was because they use Level II screens (you can too for about $250 a month). Think of the bid-ask moves you see with RTQ as the movement of a teeter-totter. If you consider pending buys/sells as bags of sand being piled on either side of the balance point, and if you could see how much is being piled where and how fast, you could make reasonable call about when the teeter was getting ready to totter an in which direction. Level II allows you to see who (which MM's) is piling how much where. RTQ let's you see it when it moves, but you are fairly blind as to the rest of the information. That is why you don't want to try day trading against them without a Level II screen and the skill and knowledge of how t use it well. As I said before on this topic, These cowboys will steal your gal, your horse, your dog, your boots, and your hat. And, they'll make you pay for the drinks.

To: Brooke Geiger who wrote (7347)	4/26/1998 1:29:00 AM
From: elk	Respond to of 7703

Brooke, Case in point, I guess the Devil made him do it!<GGGG> Or the money to be made, except he's a rank amateur, the pros do it during trading hours, to see if you pull the trigger on the momentary fear, of course this could be but the initial shot across the bow, time tells all. I never begrudge anyone making money, but the methods to obtaining it, can be an entirely different issue. Long term is an interesting concept. Some say that a week, or a Day<G>, and if you ask a SOES guy, 15 minutes, is a long term hold, to me though, when I find a stock I believe in due to my research and feel has great prospects in a big industry, I view Long Term holds as 18 months, minimum. If I make enough money from them, I will need the Capital Gains tax at 20%. Of course, paying a ridiculous amount of money in taxes is not such a bad problem, when you do not start with a ridiculous amount of money<GGGGGGG>. These hopefully are not mis-construed! vogon.com vogon.com Make decisions based on what you know, not what you feel, and you are never wrong. BTW I babble with the best of them!<GGGGGGGGGGG> Some claim that is all I do, and what I do best. Ah what can you do?<G>