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Re: Help understanding the Tape.
Yigal, on pic1 with stream of buying range from 648 to 651 and order stacking together on the bigger contract.(the one you circled). That usually mean all these big order rushing in to buy. usaully it should create market momentum.
However, big players know that people are monitoring their activities, and they will do any thing they can to hide their intentions.
For example: to buy 1000 contracts, they may buy 1500 and sell 500 alone the way to create chaos in the market to achieve that final 1000 numbers, and guess what, they do not have to achieve this all at same time, they can do it within a period of time, could be hours to days.
Bottom line: use tape as reference but be alert on its action. especially on low volume day. Once you look at it long enough, thing will start to pop out at you.
Another intertesting one on tape is you can ID short term SR on that market. You can some time spot price slamming on tape. It is actually quit fun to see how market in action.
weiwei
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