|
PureBytes Links
Trading Reference Links
|
khanitha wrote:
>
> 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
It's been a while since I looked at it but, there was a statement on
cme's website that they have a market making group whose task is to keep
the bid/ask 's on Globex in line with the overseas markets. They said
that the bid and asks would be of a certain
size like 20 or something like that. My theory is that the large
bids/offers
are from them and the actual trades are from people who actually want a
position. Sounds kind of weird but maybe they are trying to
"legitimize" Globex and they know people won't trade it if the prices
aren't representative. I know the statement of some sort was on the
website but I'm just guessing that this is what you see. As for why
sometimes only the bid would be big size: perhaps they find the ask
price to be in line with where they would put it, so they don't
interfere with that, rather just posting a tighter bid.
If this is true, you would have to be careful about inferring anything
from the size.
Conrad
Bowers
|