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1223.80 was 1st curbs on the S&P today.
Bob
----- Original Message -----
From: "John Clemens" <jbclem@xxxxxxxxxxxxx>
To: <omega-list@xxxxxxxxxx>
Sent: Monday, April 23, 2001 4:30 PM
Subject: Bid and Ask Size at a bottom?
> At 12:09 PST, the ES1M was retesting a local bottom tested 3 times about
40
> minutes previously. I was watching the bid and ask size closely(1st time
> I'd done this) and saw this interesting situation: the bid and ask prices
> stayed at 1224.00 for a good part of a 5 minute period, the bid price
> especially did not budge from 1224.00. At the same time the ask size,
which
> usually jumps around between 1 and 50-100, stayed in the 400 range for
the
> entire period. The bid size was in its low range, 1 to 50-100(don't hold
me
> to these numbers but they are faily accurate). I'm using BMI satellite
for
> data.
>
> Logically, with such a large number of sellers for such a period, I was
> expecting to see the bid price dip below the 1224.00 level as someone
tried
> to entice a lower price, but it didn't happen. 1224.00 was written in
stone
> and after the 4-5 minutes the market moved up a bit and then came down and
> tested 1224.00 again.
>
> Would someone like to comment on this? Is the bid and ask size
unreliable,
> or am I misunderstanding this situation.
>
>
> John
>
>
>
>
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