PORTFOLIO LEVEL

Used in the context of general equities. Indication not yet at the institutional trading desk but being considered by the portfolio manager . Less certainty exists because the institutional trading desk itself has not received a firm order , only the manager's interest. Show me type customer whose attitude is one of pickiness on price, either due to his own feeling on the stock or constraints imposed upon him as a fiduciary for a portfolio of stocks (and thus his need to examine the portfolio goals and restraints before transacting).