Level 2, IMO, has been showing strength in the fact that we have several more MM's bidding for shares than we have them at the offer. Additionally and interestingly today we had a group of 5 or 6 of them at the high end of the offer increase those positions. They actually had one MM at 2.00 then lowered to 1.56 but the point is all of a sudden today their are significantly more MM's offering above a dollar.
I also noticed one of these high offer mm's at 1.56 bidding for shares at .42, this is unusual IMO. Generally a high offer MM will not be so close to the current bid.
What this all means? Who knows, I just find it interesting to watch as a possible short term to long term price indicator.
Hope this helps............Thanks!