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Strategies & Market Trends : Trading For A Living

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To: DADDY WARBUCKS who wrote (988)	7/20/1998 3:04:00 PM
From: Ken Adams	Read Replies (2) of 1729

DW... I posed this question to Schwab back in September of '97. This is what they told me: "The bid and ask size refers to the number of shares available to be filled at any given bid or ask price." There was more, but this is the meat. Given this explanation, my earlier post showing DRI's size at 520 x 3 would suggest holders have 5,200 (520 x 10)shares offered for sale at that price (17.4375) and only 300 shares available to be purchased. This seems like a considerable imbalance toward supply, to me. But, price has moved in a very narrow range all session with (as of a few minutes ago) 152,000 shares traded. Schwab went on to offer "...we cannot really speculate whether the market is bullish or not for that particular security based on the size." If that's true, what value is size anyway? This remains a mystery to me! Your version may be correct, but at 520 x 3 why isn't price on the move? Ken

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