Reading the Tape for $$$$

Discussion in 'Trading' started by ghostrider, Feb 15, 2003.

  1. How about a thread where we can share ideas, wether simple or
    complex on how we read the time/ sales, specialist, and open book to get a beat on which way the stock will move next.

    When I read the tape on a big cap, I know the stock is thick and can digest large orders rather easily, so one thing I find myself "trying to get a beat on" is when the specialist participates.

    Aside from some of the bigger moves which may include clean up prints , the minute to minute of blocks which get tossed around, I try to make a assumption that the specialist is almost always participating in some way, wether taking a position or managing his current one with quotes etc.

    Lately, Ive been paying closer attention to what the specialist quotes after a block goes off and try to jump in for dimes.

    Please add your own ideas and comments
     
  2. nitro

    nitro