[darthtrader]

this could be a really interesting discussion. i only got into level II once the idea was there would be so many fake outs that its worthless information, i've read you use to be able to scalp level II direct but the market adjusted. From watching level II, to me it seems traders have over done it as far as this information goes. I really don't see the ratio of block orders to fake outs ever even being close. To me it seems like you use to be able to front run the big boys 10 years ago, they closed that gap but that doesn't mean this market info is useless. The big boys are still going to float limit orders, they are not just going to throw up huge market orders on the tape.
To me thats where volume delta comes in, what is being hit market order wise.