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Re: Hacktheripper post# 134188

Thursday, 08/15/2013 12:08:24 PM

Thursday, August 15, 2013 12:08:24 PM

Post# of 238399
It doesn't work like that. If ETRF, for example, is showing a bid for 10,000 shares at $0.158, what's not shown is how many shares ETRF is bidding for at all the different prices below $0.158. Looking at level II, you can only see the total number of shares from all the top bids from each firm, and even this number is not necessarily the real total for the top bids because (as someone else was just talking about) they are allowed to misrepresent the sizes of the bids and asks.