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Tape is my shape (tape reading, time and sales)
Started: by bloom Views / Replies:184,178 / 1,003
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Tape is my shape (tape reading, time and sales)

  #621 (permalink)
Market Wizard
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rocky9281 View Post
Thanks a ton to both of you.

This is my last question for the time being:
There are some stocks that consistently move 1-2% everyday in a particular direction (giving rise to nice trends) while others don't.
1.Why is this difference?
2.Will we continue to have this behaviour of those stocks well in the future too?

I don't know...

Things are popular. Hot stocks, hot sectors.
Stocks get pumped in the news.
Scarcity of supply (after accumulation there's less supply, so demand has more of an impact) - note that stocks and futures differ in this respect.

I think some of it is just down to current market conditions - a gradual grind up with no end in sight.

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  #622 (permalink)
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DionysusToast View Post
Scarcity of supply (after accumulation there's less supply, so demand has more of an impact) - note that stocks and futures differ in this respect.


Can you please tell in more details how stocks and futures differ in this respect?And why?

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  #623 (permalink)
Market Wizard
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rocky9281 View Post
Can you please tell in more details how stocks and futures differ in this respect?And why?

There is a finite supply of shares for any company. As such, there can be scarcity after accumulation which means demand has to work harder to find supply.

With futures, contracts are created as necessary, an infinite amount of contracts can be created as people trade. So, with futures, no-one can buy-up the contracts as they can with stocks.

That's one reason you never see 'difficult to borrow' when you go short on futures..

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  #624 (permalink)
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A few days ago I was watching a stock called SBI as it was approaching Rs. 2000 level. Since 2000 is a round figure and a whole number, it is expected that public will place their limit orders there.
Accordingly, I found something like 20,000 shares were put there at ask. That is a big number (compared to 50-500 shares placed in other levels).
But, to my surprise, in the following 1-2 seconds, the tape printed only 3 prints (6000 @ 2000,7000 @ 2000 &another 7000 @ 2000)...The entire 20,000 were traded in just 3 trades..entire offer was eaten in just 3 prints(like a giant tsunami washing away a ship).
And guess what, price touched 2013 in just a blink of the eye.

I still don't have access to the DOM and L2, but I think this is what is known as "good quality filling of offer". Am I correct?

This is the first time I watched such a thing so closely. I felt like I was watching a horror film..


Last edited by rocky9281; March 31st, 2012 at 05:26 AM.
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  #625 (permalink)
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Futures Edge on FIO
Just want to say that this is a great thread, many thanks to all

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  #626 (permalink)
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Big Mike View Post
@bloom, how are things? Still trading this way?

Mike

Yes of course Mike. This is my style and i do not need anything else)))
Yesterday was wrong and short the market))) but there no was a place to me to go long
Are you guys ready to big sell off?
I hope the market would not become very thin

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  #627 (permalink)
Trading for Profit
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I am glad to see this thread alive. Guys thank you for your interest. I hope it is helping you some or another way. May be later i will post more )))
1. Daily preparation and analysis
2. Adapting inside the day
3. Trade execution
4. Risk
5. Outcome as a result of trading style and my brain working )))

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  #628 (permalink)
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rocky9281 View Post
A few days ago I was watching a stock called SBI as it was approaching Rs. 2000 level. Since 2000 is a round figure and a whole number, it is expected that public will place their limit orders there.
Accordingly, I found something like 20,000 shares were put there at ask. That is a big number (compared to 50-500 shares placed in other levels).
But, to my surprise, in the following 1-2 seconds, the tape printed only 3 prints (6000 @ 2000,7000 @ 2000 &another 7000 @ 2000)...The entire 20,000 were traded in just 3 trades..entire offer was eaten in just 3 prints(like a giant tsunami washing away a ship).
And guess what, price touched 2013 in just a blink of the eye.

I still don't have access to the DOM and L2, but I think this is what is known as "good quality filling of offer". Am I correct?

This is the first time I watched such a thing so closely. I felt like I was watching a horror film..

You correct man )))) keep watching))) training your eyes ))))

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  #629 (permalink)
Elite Member
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bloom, glad to see that you are back!

question for everyone:

can watching a chart be similar to watching the tape? i think so. i will try to explain with a picture

if you look at the first bar, you see we have a down move. the second bar is in progress. this whole picture shows it forming. the second bar tries to go up and then comes down. its at the bottom of the bar. it pushes down further in the second snapshot and some more volume comes in. on the third and fourth snapshots, price is stuck at the bottom and big volume is coming in. ** Here we can assume that big limit bid orders are absorping all of the market selling. we see volume coming in bigger and quicker and price is not going anywhere. then in the next bar we see the beginning of the up move

is this the same?

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  #630 (permalink)
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Time and Sales


Has anyone ever tried the indicator from Indicator Warehouse that shows a visual representation of the time and sales?
I would appreciate any insight!
Thanks,
Brett

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