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

To: Zardoz who wrote (1080)	3/30/1999 2:30:00 PM
From: ahhaha	Read Replies (1) \| Respond to of 3558

The only legal information available to the public is size at bid and ask. Surprisingly if you knew the entire book, it wouldn't give you an advantage. This is what specialists have to learn. They have to learn to ignore what they think they know and just let the market force them over their best judgement to make money. In the NAZ the market maker screens change so fast that even it had theoretical value, it would be difficult to analyze it in real time. The b/a doesn't tell you where individual sentiment lies. Since it costs nothing to post b/a, you could lie a lot that way. If you believe that, you're being bagged by the shell gamers. There's quite a few. As an institutional operator I use them and I'm hoping the fool public and other institutions suck into my game. You might say such shenanigans are an attempt to manipulate you into believing that I have a certain sentiment so that you will come into my web. Volume sets the total flow state and isn't very valuable in its own right. It is inverse volume that is significant. In a positive total flow regime with elasticity net state positive, you can have low relative activity, but dynamic rising price. Volume per trade is low maybe 200 or 300 share each, yet there is enough supply made available above so that the elastic state doesn't saturate, so price translates. This what is happening today in AOL. You have made various criticisms in the past based on what you don't understand. Cross trades, off-board trades, expiration, open close aggregation, program trading, and many other net zero phenomena are irrelevant. What can be known is the raw every trade data and how it is assessed by an appropriate model. It isn't in the deviations, it's in the second order normal order flow. It's all in the noise, my boy, it's in the noise.