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best stocks to tape read?
- Thread starter TGpop
- Start date
Quote from TGpop:
im starting to watch the time and sales window tomorrow, what stocks do good tape readers out there recommend for a newbie ?
He's right, you are about 10 years late. But generally speaking you want to focus on very thin lightly traded issues. I would look at listed stocks that do around 250k to 500k shares a day.
Quote from TGpop:
10 years ago i was 6, i can't help being 'late' , anyway 250k-500k seems a bit too thin, perhaps 1-2m
No man, you need thin. Otherwise you get all the ECN action. The bots stay away from the thin stuff and the thin stuff is still traded by the specialist. Also, you need to be able to see the prints going off. Stocks that do 1 to 2 million shares a day is too much, too many prints, too fast and too many ECN's and bots there.
"Tape Reading" I think is more book-reading than T&S reading... thin stocks in a dead market is probably not going to work out too well
Maverick and Don Bright had a lengthy thread about tape reading if you do a search, it's called 'TAPE READING (cont'd.)' or something like that. Back when we were kids.
Quote from TGpop:
are you a tape reader yourself?
Read this thread.
http://www.elitetrader.com/vb/showthread.php?s=&threadid=56373&highlight=tape+reading+chat+room