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To: Jimbo Cobb who wrote (61945)5/23/1999 11:42:00 AM
From: DRRISK  Respond to of 97611
 
Jimbo,

You can watch the exchanges and T of S of the transactions and the manner in which the transactions are taking place as well as when real buyers come in and also when executions of big blocks occur. This is not as valuable as the info from Level II for NASD companies but still has some value. You are subject to the specialist to execute trades and it can be very slow even though the trade is placed electronically. It feels like you are buying at the whim of the specialist and the limit order buy executions are frecuently improved from your expectation (always nice but reeks of manipulation). The reverse is also true that in a fast market you are not assured of any execution if you place a limit order. My broker works the order extremely well through ABAMRO but I despise the old boyism that is implicit in the execution process on the NYSE.

This explanation is by way of clarification and is also IMHO one reason why the NASD is kicking the stuffings out of the NYSE and the likely reason why NYSE will change its modus operandi to compete in the near future.

DrRisk