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Tom,
Judging by how fast those bids dry up when they're hit, I'd
have to say it's sabre rattling. Also, it's hard to "buy up
the offers" if =you= are the one making them.
Best regards,
Jim
On Mon, 16 Feb 1998 Tom C.wrote:
>BTW, maybe someone knows the answer: I notice (S&P Globex) at big turning
>points that sometimes big numbers come in at the bid (bull turn) but due to
>the illiquidity, the market just moves up on it's own without any of these
>bids getting done. I see guys hitting the offer in ones and two's.....I
>cannot understand how or why these huge bids get put in time after time
>when they have no hope of getting executed. I mean, if they believe the
>market's about to take off, why not aggressively buy up the offers? I see
>this also occur in the JY at night.....just don't know... I thought maybe
>it's a classic "showing size" scare tactic, but I saw no evidence of heavy
>buying beforehand to get on board. Sometimes there's only a small spread
>when this happens. Maybe some big size is trying to attract some
>size/liquidity from the other side???
>
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