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Registered User
Joined: 10/7/2004
Posts: 2,126
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CVM was brought up by my system back on March 1. After a down retracement, and being a biotech I stuck a flag on it and forgot all about it.
Today it came back with a revenge. It seems they got a patent on their bird fly vaccine, and REALLY FLEW. Completely tradable rise, I am just wondering how I missed this.
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Registered User
Joined: 11/5/2005
Posts: 180
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Same thing happened to me, thing is you can't predict news.
I too flagged CVM thinking a penant was forming beginning mid February, I had an order into buy on 3/16/06 but didn't commit to it and thought I made the correct decision after the drop on 3/24, at the time it was the correct decision. So close but thats investing.
Today I was watching NVAX sell off on level II (which I don't own and if you've never seen a sell off or breakout on level II its amazing), anyway, the news came out about CVM and just like that CVM went up and NVAX went down. Amazing to watch MS as money flows out of one stock and into another, it was something to see the distribution of money.
Only thing left to do on CVM is learn from it, there will be plenty of other stocks just like it and if you're not making money in it then learn from it everything you can because when the time comes and you are in a stock moving 100% - 500% its mind blowing.
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Registered User
Joined: 10/7/2004
Posts: 2,126
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Yes Cowan I know exactly what you mean. I have been daytrading for over 8 yrs and yes I specialize in level III (totalview also known as supermontage). If you are still trading on level II you are at a disavantage - Level II has been obsolete for a while now - you cannot see market depth in level II. Anyways, I have play those sell out drops and buy out rises. I know the feeling.
I am sure there will be many others CVM the question is will we be there for the play?
good luck
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Registered User
Joined: 11/5/2005
Posts: 180
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Level III - where do I sign up, I use Ameritrade APEX and they've never mentioned anything about level III.
I like to think I've done fine without it but its gotta be a more useful tool.
Thanks for the info.
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Registered User
Joined: 11/5/2005
Posts: 180
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I see how its used in routing, Ameritrade does offer it.
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Registered User
Joined: 12/30/2004
Posts: 10
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to all you smart knights or could be budding knights ,
does tradestation offers level III ?
why level III is more versatile than level II please elaborate
thank you for your info
numetor
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Registered User
Joined: 10/7/2004
Posts: 2,126
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Cowan I think you are a little lost. It has nothing to do with the routing. Ameritrade doesn't offer level III -few people do. The market maker is not too happy if you can see what they see. Usually you have to find a foreing provider to get level III.
Numerator a elaboration of this would cost you money - it has taken me years of research and experience to know what I know. I will just past here a general explanation pasted from a provider.
TotalView is the newest data product from the NASDAQ SuperMontage suite?a powerful tool to help you make better-informed trading decisions based on the increased depth and liquidity in SuperMontage. SuperMontage allows individual market participants to post multiple quotes in a single NASDAQ security and allows all market participants to enter anonymous order interest for immediate execution in NASDAQ.
TotalView creates transparency from this additional market depth and provides you with even more and deeper insight into market participants trading interest than today's NASDAQ Level II service. Unlike Level II, which only displays each participant's best quote, TotalView enables traders and investors to see the full picture, including participants additional interest within pennies of their best quotes, plus anonymous order interest submitted to SuperMontage.
Level II vs. TotalView
New perspective smarter trades.
To take full advantage of SuperMontage, traders need more information than Level II provides.
TotalView shows each market participant's best quote as Level II displays today plus every additional quote and order position available for immediate execution in NASDAQ within the first five price levels. TotalView traders have an advantage over Level II traders because they can see the full depth of the NASDAQ market and the drivers of this depth the maximum amount of information available. The detailed depth helps TotalView traders to:
Identify trading opportunities
Pursue unique trading strategies
Follow pockets of liquidity over time
Better understand how orders are distributed throughout the market.
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Registered User
Joined: 4/6/2005
Posts: 239
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Several day trading books talk about Level III. It's Level II on steriods showing all the bids and asks if I remember correctly. This is what the ECN/market makers use for their trading; and why they don't want us to get it. It is available but costs a ton of bucks which puts it out of reach for most individual traders.
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Registered User
Joined: 11/5/2005
Posts: 180
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Bigblock, I should have written my response better, Ameritrade offers nothing for level III and I jumped the gun after talking with the Ameritrade tech this morning. All Ameritrade offers is this, when you place an order theres an option to select routing, which 99 - 100% of the time is set to auto, if you select the drop down it allows you to select Supermontage. The tech mentioned that I would be able to see all the information but I'm not sure how this will happen, its not like I have a java applet open like while watching level II.
I'm learning about level III as we speak, thanks for bringing it up as I will continue to research. Any input you can provide I appreciate.
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