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Great theory but you're a couple of years too late-- Level II was much more
useful before the NASDAQ rules changes in early '97 -- Once the MMs got wind
of what the original Soes Bandits were doing, they got very good at
head-fakes and other deceptive tactics and the former advantage of Level II
trading vanished.
As I mentioned here before, if you feel you need this type of excitement, I
suggest walking across the freeway at high-noon, blindfolded. You'll
probably get a brief adrenaline rush but you'll also avoid the exorbitant
Level II fees... :)
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At 11:56 PM 8/23/98 -0500, you wrote:
>
>The idea around a SOES bandit using level II is to trade within the stock
>spread with little risk as an arbitrage transaction. On-line stock firms
>that advertise commission free trading doing this and if so how could an
>individual trader just do the same thing.
>
>
>Thanks
>
>Robert
>
>
>
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