The report is 100% accurate.
What is reported by the market makers is another story.
We've had this discussion a few times on this board.
A "Buy" on the trades report means the TRADE was placed at or nearer the ASK.
A "Sell" on the trades report means the TRADE was placed at or nearer the BID.
A "?" on the trades report means the TRADE was placed right down the middle between BID and ASK.
It happens to me routinely that I place at order at ASK and it is filled closer to the BID. Makes my purchase look like I sold. It is really easy to make it look like there is a lot of selling going on, especially when the spread is so narrow. Who would want it look like there is a selling panic? Anyone with a short position.
This will quickly go off topic (this board is about CPOW not market makers) but suffice to say: the report is 100% accurate it is just IMPOSSIBLE to determine whether trades were buys or sells just based off this report. You have to be a market maker to really know.
In case someone wants to argue again about how innocent marker makers are, explain to me why the new FINRA short sell/fail to deliver regs were implemented on 28 Feb 2011. Some stocks are already seeing the fallout from this and others are about to.
Jack
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