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Were the last 2 sells the MM's selling to each other?
Someone just sold 500,000 at 37 now the buys are at 38. Games....
I'm surprised they haven't tried a shake yet. Any predictions?
All volume has been buys. No sells. Nice.
Ouch! mega-ly massacre-ed will be the new definition for MM when we're done with them.
Sorry for the delay. I'm back now. Let's rock!
Good luck to everyone. Zecco just screwed me over by not letting me login.
Ah. and you don't want ME in on it? =(
If one of you want to be the moderator, I'll be more than happy to hand the reigns over. I just wanted to get a board of our own going.
I didn't want to hog up too much of ETLS and keep this group together. Hopefully growing in strength and number as we go along.
Wouldn't it be awesome if we were able to get large enough to shut down NITE, for example, after one play during a short squeeze. It's possible.
Because of the excellent teamwork here on ETLS, I've created a board of our own.
The Shrude Iron Cowboy Janks by Bowbender
http://investorshub.advfn.com/boards/board.aspx?board_id=17715
Eventually, we'll move on from ETLS. This will allow us to have a place to congregate all our own.
First post. Ironjericho rules!
Ah, shucks. You shouldn't have.
They're like locusts. They swarm in, devour everything. Leaving what's left in ruins.
WTF is the translation to this?
If you doubt what he is saying, you definitely don't need to be trading.
I would love to get in on a sub penny at .0001-.0003 and ride it up to a dime or higher. Oh, I would be sooo happy. Just one play like that and I'd have my house and all my bills paid off. LOL!
We didn't even have any bashers this week. I'm sure they will pull this tactic no later than monday. We know they'll do it. Just a matter of time. Now if Mikey gets back on here, we'll have an extra booster rocket to go higher and faster.
There would be no "maybe". It's an almost certainty that we would rocket above the .011 mark from the last run. IMO, it shouldn't be trading any lower than .015, unless the company went belly up.
What more does it take to get some of these penny newsletters to put out some buzz on this? We've proven that we can walk this up throw all the games the MM's are playing. Albeit, slowly. ETLS HULK SMASH!
I wonder if shrude would like to give me some of his shares to help a "brotha" out.
Second day in a row I've had a bid at ask for 500 that didn't get filled due to the bell. Which is a good thing. 22.22% increase is very respectable. We've been walking this up double digits each day. Remember, we keep walking it up by increasing amounts than the previous day.
WE closed at yesterday at 29 with a something teen % increase. If we had matched that % today, it still would've been a larger amount of an increase, pps, than the day before. Compounding the pps with each EOD increase. If you can understand my maf (math) skillz.
They are democrat supporters. The most they'll get besides this dog and pony show of a "smackdown" is a light "punishment". Gotta love how that douchebag barney frank says it's the republicans fault.
33 wall. break it down and we're going to 40, possibly.
A d*uchebag of an MM.
NO FAIR!! Wished I knew what ones you were going into today.
PLEASE BUY AT ASK IN ETLS! Bowbender has dozens of grand kids to support. GRAND BABIES NEED NEW PAIRS OF SHOES!!!!
Now if we can brake this d*mn 33 wall. I'd love to see 38 or 40 by EOD.
Put out an APB on those three and a "hit" on NITE. (*Not a real hit, just a joke!)
MIKEY! COME OUT AND PLAY!!!!
AND BUY SOME ETLS STOCK AT ASK!
Send them my way!!!!
Any rich, good looking women looking for a great guy in Dallas, need only talk to me. LMAO!!!!
Don't make me lay the smack down on NITE!
I'm going to have someone give me a swift kick to my family jewels to make sure I don't have any kids like you. LMAO!
I'll sell you my first born (I don't have any kids) for half of the shares you have in ETLS.
Intro to Level 2. Something to learn.
http://www.investopedia.com/articles/trading/06/Level2Quotes.asp
Level II can provide enormous insight into a stock's price action. It can tell you what type of traders are buying or selling a stock, where the stock is likely to head in the near term, and much more. Here we explain what level II is, how it works and how it can help you better understand open interest in a given stock.
What Is Level II?
Level II is essentially the order book for Nasdaq stocks. When orders are placed, they are placed through many different market makers and other market participants. Level II will show you a ranked list of the best bid and ask prices from each of these participants, giving you detailed insight into the price action. Knowing exactly who has an interest in a stock can be extremely useful, especially if you are day trading. (For further reading, see our Electronic Trading tutorial.)
This is what a level II quote looks like:
This tell us that UBS Securities is buying 5,000 shares of stock at a price of 102.5. Note that the number of shares is in hundreds (x100). Now let's take a look at the market participants.
The Players
There are three different types of players in the marketplace:
* Market Makers (MM) - These are the players who provide liquidity in the marketplace. This means that they are required to buy when nobody else is buying and sell when nobody else is selling. They make the market.
* Electronic Communication Networks (ECN) - Electronic communication networks are computerized order placement systems. It is important to note that anyone can trade through ECNs, even large institutional traders.
* Wholesalers (Order flow firms) - Many online brokers sell their order flow to wholesalers; these order flow firms then execute orders on behalf of online brokers (usually retail traders).
Each market participant is recognized by the four-letter ID that appears on level II quotes.
The Ax
The most important market maker to look for is called the ax. This is the market maker that controls the price action in a given stock. You can find out which market maker this is by watching the level II action for a few days - the market maker who consistently dominates the price action is the ax. Many day traders make sure to trade with the ax because it typically results in a higher probability of success.
Why Use Level II?
Level II quotes can tell you a lot about what is happening with a given stock:
* You can tell what kind of buying is taking place - retail or institutional - by looking at the type of market participants involved. Large institutions do not use the same market makers as retail traders.
* If you look at ECN order sizes for irregularities, you can tell when institutional players are trying to keep the buying quiet (which can mean a buyout or accumulation is taking place). We'll take a look at how you can detect similar irregularities below.
* By trading with the ax when the price is trending, you can greatly increase your odds of a successful trade. Remember, the ax provides liquidity, but its traders are out there to make a profit just like anyone else.
* By looking for trades that take place in between the bid and ask, you can tell when a strong trend is about to come to an end. This is because these trades are often placed by large traders who take a small loss in order to make sure that they get out of the stock in time.
Tricks and Deception
Although watching the level II can tell you a lot about what is happening, there is also a lot of deception. Here are a few of the most common tricks played by market makers:
* Market makers can hide their order sizes by placing small orders and updating them whenever they get a fill. They do this in order to unload or pick up a large order without tipping off other traders and scaring them away. After all, nobody is going to attempt to push through a 500,000 share resistance, but if a persistent 10,000 share resistance is there, traders may still think it is a beatable barrier.
* Market makers also occasionally try to deceive other traders using their order sizes and timing. For example, JPHQ may place a large offer to get short sellers on board, only to pull the order and place a large bid. This will force the new shorts to cover as day traders react to the large bid.
* Market makers can also hide their actions by trading through ECNs. Remember, ECNs can be used by anyone, so it is often difficult to tell whether large ECN orders are retail or institutional.
Conclusion
Level II can give you unique insight into a stock's price action, but there are also a lot of things that market makers can do to disguise their true intentions. Therefore, the average trader cannot rely on level II alone. Rather, he or she should use it in conjunction with other forms of analysis when determining whether to buy or sell a stock.
by Justin Kuepper (Contact Author | Biography)
Don't let babies to grow up to be CowboyDennis'seseseses!
Didn't think about that move. Learn something new everyday. Usually from something idiotic I do.
Can someone explain this? I'm still a noobie.