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Re: gunnisonfox post# 56351

Tuesday, 05/24/2011 1:06:29 PM

Tuesday, May 24, 2011 1:06:29 PM

Post# of 79952
Level 2 shows you how many market makers are at both bid and ask side. It gives you an idea about the possible direction pps is going. About two or three weeks ago (most) market makers are also showing how many shares they want to buy at bid or sell at ask.

Mind you, it doesn't tell anything about retail buying and selling, nor does it give you any information whatsoever about the company itself.

Since you're new to the game, you should read the basics for yourself. You never know whether someone is trying to 'guide' you into buying or selling by providing any kind of partial information.

http://en.wikipedia.org/wiki/Market_maker
http://www.investopedia.com/terms/q/quotedriven.asp

Investopedia.com is by far the most interesting website to get to know the basics imho.

If you want to analyse charts, I'd suggest stockcharts.com. If anything I'd suggest reading before buying any kind of membership anywhere. It's no use buying something before you can actually use it.

Good luck smile

I post my opinion, my thoughts, my conclusions. Not necessarily yours.