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Gold/Mining/Energy : Barrick Gold (ABX) -- Ignore unavailable to you. Want to Upgrade?

To: ahhaha who wrote (1074)	3/29/1999 1:22:00 PM
From: accountclosed	Read Replies (1) \| Respond to of 3558

I am not saying what you surmised. The preponderance of the action is being initiated by sellers, but their effect is absorbed, so there is little effect. The market is sold out. There are few buyers. The buyer's money stays in, but the seller's money comes out without price concession. It is at the top that selling dries up and where buying has the inverse effect of what selling has in ABX now. This is easy to understand if one knows how the specialist's book works. So apparently I don't understand the mechanics of your tick analysis. I assumed that you kept track of whether orders took place at the bid or the ask. Instead are you keeping track of whether the bid or the ask moves? I remember you saying that bid/ask didn't matter once and I didn't follow you. Without the bid and the ask as benchmarks, I wouldn't know how to tell whether a trade was buy initiated or sell initiated. When you get a chance can you fill me in on how your analysis works? Also an explanation of the specialist's book from your point of view would be valuable. tia