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To: David A. Irvine who wrote (6524)9/23/1998 2:46:00 PM
From: MskiHntr  Read Replies (1) | Respond to of 44908
 
Dave, I use it primarily to see who the "players" are. That is, who is on the bid and who is on the offer. Out of the 16 MMs in the stock only a handful are "size" players. MMs who will do 20M, 50M or 100M at the prevailing bid or offer. It is always nice to know where they are in the lineup.

When I see a non-player step up or down depending on the side, I know from experience that he is not a "preferred" name. That is, non-MMs won't automatically go to him for a fill, therefore, when he has "something to do" he has to show up on the bid or offer to at least attract attention so that his bid or offer might attract some hits.

Other than that, I look to see if the bids or offers are firming up , tightening or loosening, congesting or dispersing, it is a way to get a feel for what is happening in the trading rooms without being there.

Hope this helps.

Best, Joe