that 1.49 has to be cleared out. Clearly there's a seller
there who is not showing his whole hand and has a larger position
to sell then what he displays
This common on Level 2, it's kind of like playing poker, you get
a big seller, say who's selling 50K shares but only shows offers of
5K at a time, then when its taken out, he throws up another 5K, etc
until he finally sells out. However once he's finally done
selling, the stock will generally pop if volume is good.
That's how to use use Level 2 when playing breakouts, look
for big offers that also match resistance,
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urg
URG trade idea
Posted by fixdgear on 2nd of Nov 2010 at 02:33 pm
that 1.49 has to be
Posted by matt on 2nd of Nov 2010 at 02:38 pm
that 1.49 has to be cleared out. Clearly there's a seller there who is not showing his whole hand and has a larger position to sell then what he displays
This common on Level 2, it's kind of like playing poker, you get a big seller, say who's selling 50K shares but only shows offers of 5K at a time, then when its taken out, he throws up another 5K, etc until he finally sells out. However once he's finally done selling, the stock will generally pop if volume is good. That's how to use use Level 2 when playing breakouts, look for big offers that also match resistance,