FYI
How you can determine buys or sells is a mystery to me. You must know something that everyone else doesn't know.
1. prints on bids or offers does not designate a buy or a sell, its simply a print.
2. There are things such as third market prints, in house crosses, etc.
example: You go to Charles Schwab who doesn't make a market in the stock. He sends his order flow to Herzog, Mayer Schweitzer, etc. They don't have a desire for the inside market so they go hit out the market. Therefore, there is a print from Schwab to Herzog and Herzog to the market. Double print.
Then when you have a buy in house and a sell in house you can put up two prints depending upon when the orders came in. If you receive orders together and there is what is considered "no risk" both prints are given at the best price. Therefore, a buy and a sell look like two buys or two sells.
Then there is the issue of average price tickets, orders working for the day and about ten other varieties thereof. Therefore, your theory about buys and sells is incorrect. There is no known measure in these type of stocks for ratios.
You can use Bloomberg or other services that will indicate what "appears" to be a buy or a sell, but there is no way of knowing.
And remember one simple concept, for every buyer there is a seller. Add that to the equation.
This is not where you have a specialist with a book, where you can gauge bid size, market, etc. This is the bulletin board. All of the Market Makers indicate 5 up so you don't know size, even though they are required to show there orders by rule, which none of them follow by the way and unforutnately is not enforced.
For example, NITE was on the bid all day and showing a market of 500 by 500 yet he was bidding for 5,000 at a time. This is obviously done in an attempt to move the market in a desired direction, although his market is not shown there. But this is customary of how market makers trade the stock.
Today you saw some short covering as the market makers usually like to go home flat end of month. Now is month end, since T plus 3 brings settlement to the end of the month.
The stocks usually then get soft again after month end when they start to lay stock out again.
A little more education never hurts anybody.
And notice I had nothing negative to say about the company. I'll give you a break and wait till June 30 when the $1,000,000 is due. |
