Post on the Board, and you ask some intruiging questions... But first let me say:
To the Board!
To be honest, after many years trading the Market, I still have a hard time trying to figure out what the MM's are doing...Though it does appear to me that NITE is shorting this stock...I will say that when something BIG happens here, and the Momo kicks in, I hope more than anything that NITE has to scramble quickly to cover all his shorts, and for a Big Loss at that...Then, once and for all we may be finished with him and his shenanagins once and for all...Just wishful thinking here more than any hard facts...
Hopefully, someone with a better understanding of MM's will step up, and say something more meaninful to you on this subject...
And again, it's nice to meet another LONG to Welcome, and enjoy the Board!
Shizoku - I don't have L2 for pinkies, but HSDN or TDCM is usually used for dilution.
A little MM Info (A Must Read)
Penny Stock Market Makers Who Are the Players in this Game
By Bill Panetta
Let Me Start off by saying this: Level 2 Does not have the same effect like it did 5 years ago except for OTCBB Stocks & Pink Sheet Stocks. What Do I mean By This? NASDAQ is all chart plays, level 2 has no meaning as it once did for NASDAQ Stocks , too many games can be played now on level 2. Simply put if you don't know how to read the charts you will get killed on NASDAQ Stocks.
With all the changes on Level 2 Traders have been forced to learn TA, You could had a made a killing with level 2 before 2001 with out TA; I have witnesses that have proven this.
And when I make this comment I am talking about regular trading hours, after hour's different story. Bottom Line Level 2 does not have the same effect on NASDAQ Stocks that it did 5 years ago because of the New Super Soes Trading System being implemented in 2001 and along with 1 cent spreads, it was the worst thing NASDAQ ever did for traders IMO. The Traders from 5 yrs ago know what I am talking about.
Let's talk about the 2 exchanges where Level 2 has not changed and having level 2 is really important to your trading. I am talking about The OTCBB & PINKSHEET Markets.
If you learn how to read into Level 2 on the OTCBB & PINK SHEETS it will really enhance your trading. Let's break down the Market Markets.
There are 2 categories of Market Makers let's talking about the first one.
Retail Market Makers:
These are the market makers from very popular brokerage firms. They handle a lot of the order flow for small retail investors.
NITE:
SCHB: Schwab
TDCM: TD Water House
SBSH: Smith Barney
MLCO: Merrill Lynch
GRVC: ETRADE
This is the list that you really have master because these are the MARKET MAKERS that handle promotions, insider transactions also S-8 and CD Transaction.
CD: means Convertible Debentures they are loans the come due and get sold into the market by the loaning company.
There are lot market makers in this category so I will break it down to who are the most important: These are some of the more active MARKET MARKET MAKERS on the street:
FANC: major S- 8 player: if there is an S- 8 on a Stock most likely he will be there on the ask until it dries up
HDSN: major CD Seller Handles a lot CD transactions. formerly was WIEN.
VIEW
DOMS
GNLN: one of favorites: smart money more like a trader than market maker
VERT
CLYP: heavy seller if you see him on the bid it's unusual
BMIC
FLCR: been very active lately especially on LENF and UGHO
SACM: heavy seller spends alot time on the ask, well known daily shorter, also
HILL: very weak smoke screen for NITE
VFIN
AYME
CRWN a pure trader
STCS
PUGS: new player this year, has been around and dormant until 04
PBLC
VFIN
PERT
MRLN: one of my favorites more like trader
BKST
BNCH
BAMM
AGIS works very closely with SCHB, sometimes shorts
ECN MARKET MAKERS
GNET: owned by ARCA: very active used by traders market makers any one can use GNET you have to know what your are doing. If you have access to ACRA trading system you can use gnet
TRAC: owned by mytrack if you trade with my track you can use this to place your trade as a liquidity outlet same 4 data
DATA: owned by my track same concept as GNET & TRAC
There are probably a few market makers that I left out or there will a few new market makers that show but for the most part these are the major players. Good luck hopes this helps.
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