Heya Jason..
<<Do you use I-Watch at all?>>
Yeah, I just got done using it.. :)
<<I-Watch is viewed as a contrarian indicator quite often. It shows INTENT only, not true buys and sells. Therefore, an institution can offer to buy a very large block at a price and withdraw the order before it gets filled. Other people see the order, and buy, driving up the price, while all the while, the insty plans of selling at the inflated price. Hope that helps.>>
I understand this concept, and agree with what you're saying.. but this sell interest combined with a service that tracks block trades gives me what I thought at least was a complete picture:
Summary of 9/29/2000 (Delayed) Type Avg Price Volume Block Trades
Total Block Trades 66.548 414,500 35
Block Trades Under Market Price 66.574 246,500 17
Block Trades Over Market Price 66.591 101,400 11
Sells outnumber the buys 2:1 from a volume standpoint.. and they correlate roughly with the messages seen on I-Watch.. so is that still a contrarian indicator?
I feel like any time I ask a question that might be even the least bit questioning of SNDK, I get railed.. :D I never claimed to be the expert here, go easy on me eh? I just claim to know my DD on SSTI..
regards, docpaul |
