TAPE READING (chat room cont.)

Riskarb found his yahoo chat.

Someone should mention to Baron about installing a live ET IM.

 

Are you going to let the rest of us know what instruments you trade?

 

hmm, mavericco, what da heck are u tradin' now...never heard u mentionin' index or commodities options....u were flippin' goog/aapl flys no long ago, no more?

 

Index, vix, energy, fx is what I IMed Riskarb. I stopped trading equity options long ago Bit.

 

IMO your option strats are better suited for Index/FX/Treasuries.
Having to manage an options on equities portfollio with stocks possibly moving 50% in a month is NOT what you do best. Equity options are the crappiest trade around. Vols are too expensive to buy and the skittish underlyings makes them too risky to sell.......

 

Thanks to Maverick74 and all who contributed to this thread. Have learned a lot from you guys

 

A multi-part question for anyone who might wish to comment:

When one looks at a T&S table and does not know what the best bid/best ask quotes for some moment in time are, but does have access to a 5 minute bar chart, is it possible to ascertain whether a particular entry represents a short? If it is possible then how does one know this? If it is not possible, then what else does one need in order to be able to know this?

May I apologize in advance if this a dumb question but I don't know of any other way to ask it.

TIA

ljy

 

Never mind. I figured it out or rather by reading what was said earlier in this thread I appreciate what it is that I am up against by trying to determine if the bid I just hit is someone cleaning up a short position. Thank you Maverick et al.

ljy

 

ok, i'll go for this...

say...in a 5 minute candlestick chart, there might have been tons and tons of prints go off in that 5 minute interval...hopefully that may help...

as to short...if there is nothing but red candles one after another...there may be some institutional size or the start of an institutional size selling...

hope that helps.

FNF

 

Thank you FNF.
The more I read this thread, the more I appreciate that what I had been led to believe was "reading the tape" was not what Maverick was talking about at all. Rather it was some brew of Wyckoff, Mamis, Neill, a pinch of Livermore and some other stuff that I'm not entirely sure of but which I'm coming to believe was conjectural at best. I have a nice headache right now but I'm going to go back to the thread and get some more pain because "no pain, no gain" and besides as a half-assed Irishman, I deserve it.
Thanks again.
ljy