Some nice takeaways here..

NITE - wholesaler
SCHB - wholesaler
TDCM - retailer
ETRD - retail ECN
ARCA - an ECN

NITE : This is the king MM of the OTCBB. He intimides traders and other MMs use that to their advantage knowing that he scares them. That's why NITE is the shaker on most stock runs; he is the most common ax. NITE could be on the ask all the time, he could be leading a dip scaring sellers to SCHB and TDCM on the bid.

Other ECNs : ARCA, BRUT, BTRD, INCA, INTL, ISLD, REDI

· If you look at ECN order sizes for irregularities, you can tell when institutional players are trying to keep the buying quiet (which can mean a buyout or accumulation is taking place). We'll take a look at how you can detect similar irregularities below.

· By trading with the ax when the price is trending, you can greatly increase your odds of a successful trade. Remember, the ax provides liquidity, but its traders are out there to make a profit just like anyone else.

· By looking for trades that take place in between the bid and ask, you can tell when a strong trend is about to come to an end. This is because these trades are often placed by large traders who take a small loss in order to make sure that they get out of the stock in time.