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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: Jon K. who wrote (15177)	2/26/1999 8:21:00 PM
From: genejockey	Read Replies (6) \| Respond to of 122087

jon, if you don't have level 2, you should get it. OMGA on lvl 2 was educational to say the least Depending on the # of trades you do (I use MBTrading) it can cost only $100. I haven't got all the nuances down,but am picking up more and more each time I watch it. Like I mentioned before, the OMGA MM's RAJA and LEHM were very obvious in the way they were propping up the OMGA price trying to force a run. ie. You look at Level 2 and see RAJA as the highest bidder, 1 hour later not much volume and OMGA's price hasn't gone down. You look up at level 2 and you see RAJA as the highest bidder (with RAJA having been the highest bidder or just off the highest bid during the whole interval). 1 hour later, price it up to 11 and you see ISLD as highest bid with RAJA just underneath it. 30 minutes later, price is up to 11 1/2 with RAJA as highest bidder. Price and volume both spike up and OMGA hits 11 3/4 and falls down a bit to 11 1/2. You look up at level 2 and see RAJA at the highest bid of 11 1/2. RAJA stays parked at 11 1/2 eating all sells. LEHM, RAJA's partner in crime then takes RAJA's place and parks at 11 1/2 eating all sells while RAJA drops off. As OMGA price goes up, you look at level 2 and you see either LEHM or RAJA holding up the bid (by either being at the top bid or just below it) all the way to 13. RAJA in no way hid what he was doing... he just did it, and was doing it on Thursday too. There's quite a few people that are short on OMGA in #Daytraders mIRC chat, and a couple people remarked on Thursday that it seemed RAJA was buying everything in site keeping OMGA from falling. That's when RAJA popped up on my radar screen, and it seemed everytime I looked at that damn level 2 since Thurs. afternoon, RAJA was the high bidder (or LEHM). If you have the monitor space and everything, you should load up mIRC and log onto #daytraders throughout the day since it's free. There's alot of flak on #daytraders, but there's quite a few smart cookies that make it worth looking at. In fact, there's one regular on #daytraders called wallstreetarb, and he's respected by most of the #daytraders regulars. Right before OMGA shot to 11 1/2, Wallstreetarb posted that He was buying OMGA cause it was getting setup for a short squeeze. That should have been enough to get me to cover my OMGA short (considering I knew that RAJA and LEHM had been propping up the price), but I didn't cover... classic deer looking at headlights syndrome. I'm still pretty new to daytrading, and won't make the same mistake twice. It should be really instructive when ANTHONY opens up his chat site, cause you'll be able to get real time exchanges on these kind of issues. ie. if ANTHONY's chat was up Thursday, I would've asked him to look at level2 on OMGA and focus on RAJA, and give some comments... and today, with RAJA acting up again in concert with LEHM, I would've asked ANTHONY to look at level 2 again and see if he smelled something fishy... If he would've of said that something did look fishy in combination with Wallstreetarb commenting that he thought a squeeze was coming on OMGA, I am sure I would've covered my position... and I would've of gotten ready to sell some of my other positions to get funds to short OMGA again when it hit its new high. Thats why I can't wait till ANTHONY gets his chat running, you'll be able to get an idea of what he's thinking before he actually decides to move on an issue, which would give you some lead time to get ready (ie. close ou other positions cause this one's going to be good, call to see if shorts are available, etc). About the Yahoo IBM/OMGA rumor. As I mentioned before, I am confident that it did not start the runup (the MM's did). But rather, I think that the Yahoo rumor made it easier for people to hit the buy when they saw the runup happening. Kind of reminds me of SATH from last week. People had been rumoring about a Yahoo buyout and increased institutional buying for days without it resulting in much action on SATH, then one day, there's a jump in SATH's price and activity and SATH shoots up like mad cause everybody begins to pile on and then buyers start saying... I guess it's running due to the rumors and jump on. The rumors don't start these runs, but it primes people to buy into these runs. On OMGA, the main reason why I think the IBM rumor didn't start this run is because I saw this run happening in realtime and people were buying OMGA in various chatrooms, but didn't know why they were buying it except for the simple reason that it was running.... only much later did anyone mention in any of the chatrooms anything about an IBM posting on Yahoo. However, since word of the Yahoo rumors seemed to circulate fast AFTER OMGA hit it's high of 13 1/4, I believe the rumor might then have played a part in preventing a severe eod OMGA crash. After OMGA hit it's high, then I started hearing things like why did OMGA run? Heard an IBM buyout rumor... at the very end of the day, people seemed to be willing to buy some OMGA based on hearing about this rumor coupled with the mad runup earlier.---- not HOWIE PS, jon, this is my 2nd year of MED SCHOOL and I have a decent amount of freedom to cut classes. Although, my grades aren't stellar, I think I'll do OK. I'm hoping to make enough $ daytrading to take a year off and do this full time, then go back to med school. I seem to enjoy this alot, but I don't think I'd want to make a career out of it... too much stress. ie. you know OMGA should go down, but MM's are propping it up in the short term and there is NOTHING YOU CAN DO... frustrating to say the least.