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Thursday, May 10, 2012 2:48:48 PM
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. What level II is, how it works and how it can help you better understand open interest in a given stock.
http://www.investopedia.com/articles/trading/06/Level2Quotes.asp#axzz1uUgCy6Fw
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