TAPE READING (chat room cont.)

Discussion in 'Strategy Development' started by shortseller, Sep 30, 2005.

tape reading

Poll closed Jan 28, 2006.
  1. go long at bid

    19 vote(s)
  2. go long at offer

    38 vote(s)
  3. place short at bid (bullet or conversion) reg sho.

    17 vote(s)
  4. place short at offer

    17 vote(s)

    100.00 (56k) X 100.05 (100)

    All other factors being equal for the sake of discussion.

    do you A go long at the bid ?

    do you b go long at the offer?

    do you c short at offer ?

    do you d place short at bid ?
  2. This is a continuation of a discussion held live in the chat text today where someone thought it good to go short into a large size bid.. some traders (myself ) considered that a bad move considering the size of the bid is suggesting a large amount of buyers entering or wanting to enter the market. Others suggested (Only after bragging about there tape reading skills) that they want to go into size, Which I fully disagree with. What are your thoughts comments or suggestions. Thank you all in advance.
  3. Tricky Question.. need more info such as the average daily volume and float. Maybe even Beta.

    If it's a big enough company, I would go long at bid. If it's a smaller cap company, gotta watch out for those Market Makers.
  4. the intentions of this post is to see "what information is given to us by the bid / offer size" .. sure we can ask other questions but that is off topic as far as this post is concerned. consider the post as asking LARGE size on bid or offer what is it telling us?
  5. as I see it I would enter a order to go long at 100.01 but I am very interested is seeing how others see it, please share some feed back.

  6. are we talking just nyse or what?
  7. yes NYSE
  8. Cross up obviously, bid is my out if im wrong. If the bid does go, flip short.

    I should add that if its a $10 stock not a $100 stock i would say there are too many factors to consider and it is impossible to say, although i like to go with size.
  9. Szeven I think we are on the same page.


    all things being equal, lift the offer
    #10     Sep 30, 2005