Morning Trading July 3, page-172

OT

All buying & selling comes from 'off-screen'. If it didn't, the market wouldn't move or transact at all. Passive buying (ie. sitting in the bid depth and being filled will show up as 'selling' on a chart or course of sales). Passive buying can be profitable, but it's usually something the banks do since they know when and where the bottom will be printed. Although if you notice a bank 'bag holding' near a low, then you can do the same. Bag holding shows up as high volume with a small true range.