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Strategies & Market Trends : From the Trading Desk -- Ignore unavailable to you. Want to Upgrade?

To: steve goldman who wrote (3290)	6/16/1998 8:50:00 PM
From: Jay Fisk	Read Replies (1) \| Respond to of 4969

Question of visibility. Option limit order. How widely disseminated is that order? Would it be safe to assume that on listed (NYSE/AMEX) that the specialist is watching ? (I would!) What's the scenario for NAZ issues, who sees limit orders ? J

To: steve goldman who wrote (3290)	6/16/1998 11:28:00 PM
From: Kevin Hamlin	Read Replies (1) \| Respond to of 4969

Steve, you asked "how did I know which houses". I work from home. Been trading for a living for about a year now. The real-time services I pay for give me pretty much all the data(houses included) that I could ever want and then some. These kind of days get on my nerves because the indicators I use are triggering buy signals earlier in the day, but then the price seems boxed in something fierce. Sure, later in the day I'm back out flat,... can't complain too loud, but I just thought there might be some obvious "making sense of it" that I was missing. Thanks for your help. Kevin

To: steve goldman who wrote (3290)	6/17/1998 1:03:00 AM
From: Darren	Read Replies (1) \| Respond to of 4969

Also, how do you know which houses bought and sold what? The only way I know is when both the buyer and seller are on the inside Bid/Ask and everybody who gets in on the inside then moves out. When this situation exists, you just start tallying shares. You get a close approximation, and you can usually tell the odd-ball trades going on around this transaction because the prints are either the Bid or the Ask and the inside MM's are usually printing on the Bid. Everybody else uses the Ask, like normal, depending on whether the market is rising or falling -- you get the drill. (I didn't explain that very well) I love when I've been tallying shares for 5 minutes, and I end up with a nice round number. 250,000 shares, and then both MM's jump off and trades resume...good to have a calculator handy... I have seen it with stocks as volatile as WCOM. I am not sure you could ever do this with DELL...