Hi GF I have only ever found the Commsec order figures useful as...

Hi GF
I have only ever found the Commsec order figures useful as a rough guide. The bottom line totals can be a reasonable indication of market pressure / direction if there is a very defininite / large diversion. Many other factors could be in play that we cannot see in the numbers. I suspect...

1. On both the buy and sell side there can be dodgy orders trying to manipulate the market that simply get pulled and are never genuine.
2. The number of orders is a poor indication unless the volume is factored in so it follows that the volume of shares is the better guide. (but subject to 1.)
3. We cannot see which orders are for one "today only" or sit there for 28 days and could be purely speculative or forgotten - including...
4. activity that is bottom fishing on the buy side and hardly relevant.
5. speculative sells on the sell side including many that are unrealistically high.
6. orders on for a month but the market has run/crashed since and there is no possibility they will be exercised.
7. and, what the bots are up to is another unknown.

Have found the best clues lie in examining where the bulk of orders / volume sits - that may qualify as genuine enthusiasim to buy - or definite sell walls that are reasonable with regard to the fundamentals of the stock and its trading history. Not investment advice.

loujag
Tas