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Politics : Idea Of The Day

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To: Eugene G. Glover who wrote (25728)	4/25/1999 3:14:00 PM
From: Judy	Read Replies (2) of 50167

Gene, Reading the tape is a subjective skill that is difficult to explain. An analogy is like trying to explain to someone who is unfamiliar with the concept of colors what color is and how to tell the difference between blue, yellow, red, etc. But to say color is basically photons of different energy levels in the spectrum is technically precise yet not useful for pragmatic use. And then to further refine whether one is seeing red, garnet, claret, or vermillion. And then again, some people are color blind and some cannot distinguish shares or hues in color. Specific stocks and classes of stocks develop specific trading patterns that experienced trades take note of and become familiar with. Take VERT as a recent example. A thin float stock of 3+ million shares where the mm's can make the stock soar of drop like a rock in a blink of an eye. Average daily trading volume of 500,000 shares. That the stock can drop 30 points 15 mintues before the close of market on a few trades of 200-500 shares ... is the drop a head fake down or for real? Message 8761878 There are probably many books written on taping reading if you peruse Amazon.com. Please post back if you find a useful reference.

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