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Microcap & Penny Stocks : TLTG: Teltran International, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Tom Allinder who wrote (60)	2/7/1999 11:11:00 PM
From: Kimberly Lee	Read Replies (1) \| Respond to of 1184

Thomas, I have found monitoring the level 2 screen alone offers nearly no advantage whatsoever for the traders. It seems a little easier for bb stocks as you don't have to worry about all the Selectnet activities displayed on level 3, and you don't need to keep a very vigilant eye on the internal book of all the ECNs, for which bb stocks are not eligible. Besides, every market maker I know make tremendous efforts to conceal their size and intentions on their representation on the level 2 screen. They will make every effort possible to create a smoke screen, enticing you to take the wrong direction. I rely far more on real time intraday charts, time and sales, tick charts, ema, sma....I have also found that schmoozing with mms, fund (both mutual and hedge) managers, analysts and others in the profession, an indispensable component of successful trading.