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ZBB Energy Corporation Common S Message Board

  • wtblanch5 wtblanch5 Dec 16, 2011 3:42 PM Flag

    There's Level II and then there's Level II ...

    So Moose, how much Level II you got there big boy?

    (more from the AXPW trading discussions)

    Last comment in the previous Concentrator by DRich:

    >HTL ... I don't know if this is just my trading platform or not, but I have a button for entering "Anonymous" buy/sell in Level II. It will show a minimum offer of 100 or a slider up to the limit of my offer. This amount is what is shown to other Level II traders. For an additional fee (I think it's $60/mo) I can get a feed from the NASDAQ called "Total View" (again, I don't know if this is just my platform name for it) and it will show every bid/ask offering broken down into whatever traunches the dealer has broken it up into. I've been told (by a less than trustworthy trader that has this) that the offering traunches are client coded. I don't know.

    I've never bought into this because I've no interest in trying to front run or go HFT. I do know there are data feeds out there that will give you a lot more granularity than Level II. Everything for a price.

    From the previous one:

    Just and FYI: pre-market we see MM BTIG in again at 5K @ $0.33 offer.

    This was in place all day yesterday and *never* varied even though almost 60K shares trade at that price.

    I've not posted my thoughts from yesterday yet, but this is mentioned in what I will post.

    I conclude that BTIG is the MM/broker being used by some "larger" seller(s) and they are *either* violating the FINRA/SEC rules requiring *presentation* of the full amount offered or they are honoring a "reserve quantity".

    Regardless, the point is that there's a lot more shares backed up behind that offer, unless they are running out or shorting (legal if they borrowed stock, but why at this price?).

    Until they are exhausted, we are likely "capped" at $0.33, since that seem to be their price regardless of what the market might support. Otherwise they would have adjusted behavior to see what might be supported.

    If you see them withdraw for a while and come back at another price, I'll think they're acting "smarter" and in the best interests of their client(s) (and us too!).


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