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When trading NYSE stocks I always watched the b/a and size and used it to my
advantage when placing orders. It's one of the pieces of info I miss in trading
futures and one of the reasons I look forward to all electronic trading. When I
first switched to futures, I traded the e-mini and watched the b/a and size in
real-time from CME Live Prices (free from Townsend Analytics). I noted that b/a
was quite useful during the day, but less so in the illiquid off-hours. During
off-hours, I've often seen size of 100 appear momentarily only to disappear
without a trade taking place so I would be quite cautious about using size in
slow markets; however it's often worth fading size in liquid markets i.e. bid 5
ask 100 I would expect price to decline as you noted.
Earl
-----Original Message-----
From: khanitha <charlie@xxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Friday, July 31, 1998 2:33 AM
Subject: yen on cme night globex
>I'm bored out of my mind and watching live cme quotes for the yen at 9:40
>pm,
>which is 2:40 am (fri) chicago time. i just started watching these "size"
>bid/ask
>column's and i'm wondering if you guys (and girls) find it interesting.
>the reason being,
>the ask size has been creeping up while the bid's are barely there.
>At this very moment there are 100 ask's and only 5 bids, a few moments ago
>it was basically 2,3,4,5 bid's and the ask's were in the 90's.............
>the d-mark is showing 2 bid's and 100 ask's........maybe because i'm short
>the yen
>and not tired that i find it interesting.......wow, there it goes i bounced
>over to the quote screen then back to this letter. when i started writing
>this a few minutes ago, the bid/ask was roughly 7000/7003 with a low of
>6994, well when the 100 ask appeared it was still above 7000, now we are on
>the bid and low - 6992?
>I've never payed attention to bid/ask "size" before is this significant
>when there is clearly more ask's than bids or do i just need
>sleep????????????????????.
>it's now 10:20 pm my time i had to step away, i'm back and we are at new
>lows
>6985.
>comments........PLEASE...
>goodnight
>gary
>hawaii
>
>
>
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