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Hi I usually do not post on this thread but I am at home looking at some
very Interesting Data. Before I post I need to make a disclaimer I work for
DBCC and have for 6 years. Five years in tech support and one in sales. I
must say for the record this is not a sales post. It is to help me educate
my self.
I am looking for help with some T&A I am working on, Also for the record I
use all types of real time software packages. They all have some strengths.
Tonight I was reviewing a beta release of Ensign Software. That Runs on
Esignal Data over the I-net. Howard and Kimball at Ensign have done some
very interesting things with Level Two Data. They allow you to plot the
market makers bid and ask, Set Alerts on a mmid and Do technical work off a
chart on the MMID. This type of data intrigues me.
I would like some help doing some technical work with Level Two Data. For
example. IF you go to www.nasdaqtrader.com and go into trading data you can
find the lead MMID. I am looking at Plotting the top three MMids per stock
and looking at their movements. The chart would look something like a moving
average based on the bid and ask. In other works you have three channels
that continually cross each other.
My Goal is to look at three ratios, # of times a primary MMID was best Bid,
ask, and the number of times he crossed his competitors fighting for
position. For example If I had a stock that I thought would break to the
upside because of any number of T&A formations and I also had a Bid and ask
ration of 10 to one on the BID side I should see movement to the upside.
This could tell me if the stock was under accumulation or if it was going to
be held in a trading range. I can think of a lot of creative ways to use
this data as a swing trader. Any thoughts on some interesting ways to use a
Primary MMID against him self.
I should say one more thing I only trade NASDAQ optionable stocks that are
priced 50 dollars or lower and have volume of at least 100,000 shares per
day. I have found that the # of MM's that lead the stock are more clearly
defined. For example on the stock CRUS. MASH, MILCO are the clear leader in
shares traded on this stock. This type of DATA is new to me so I would
welcome any comments on how to more effectively use it. Ensign has not
released this to the public and will not support it for several more days.
So do not call them. I on the other hand would welcome any comments. I can
be reached several ways.
Before I go one more disclaimer, I am not representing DBCC tonight and I am
only looking for my own edification.
Jeff Crystal
JCRYSTAL @DBC.com or KELTNER001@xxxxxxx
800-287-9517 Work
801-766-1044 Home office
801-859-6616 Cell Phone
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