Tape Reading and Study Time

Yesterday I had a post with links to an author who wrote of specialist and tape reading.Part 3:The Tape Reading part has really got me thinking that I have gotten away from really focusing on that. The next couple days I will be watching more than I will be trading.The author really made some good points and reminded me of the fact that you really have to pay more attention to the Tape than the open book.I was watching BSC at the 10:55am 5 minute bar and the bar just before that and all the prints were starting to go off on the bid even though it appeared the stock was moving back up I don't think the sellers were quite done yet.This was a great tip off for a nice short opportunity(short term scalp)for a nice .50 to .60 cent move down.I'll be watching more setups off the Tape in the coming days and try to post more of my observations. I'll also be taking this time to get caught up on some other things,like some other traders, I'm finding this options expirations week to be very undesirable to trade. Good trading to all.