22 points???????

Sell/Buy ratios are often completely misleading. Don't forget - for every seller there is a buyer. In the case of LOG all one can say is that 26 million shares changed hands.

In the course of a day no matter how many shares are 'sold' if SETS participants are willing to pay more for the stock then the share price will rise.

Another reason for the misleading buy/sell ratio might also be delayed trades. A trade is only signalled as a buy/sell by a comparison of the price when the trade is reported. If there was a large delayed buy then by the time the trade was reported the price might well have risen and hence it may have been reported as a sell.

IMHO Buy/Sell ratios can be a guide with SEAQ stocks but for SETS/SETSMM traded stocks then it is a waste of time. The only thing that counts is how high the volume is in relation to a normal trading day for the stock in question. For LOG today's volume was 295% of the 50 day average traded volume - it was high (the highest in 60 days) although there were 20 FT350 stocks with a higher percentage.

As Qwento says for every seller there is a buyer.
And many of the large orders are above market size so may be delayed by 1 hour. With a rising share price this makes them look like sells as they are then below the current mid price.

Well explained Qwento & Croc. Everyone who watches the buy/sell ratios ought to be aware of the info that you have given here.
Thanks
optomistic

Thank you all for your input, most helpful.
Cheers Mike...
Just got in and closed my S&P long for 5 points:o)!

Still more downtrend on the way according to Investor's Chronicle as Intel is not doing well. Thus shares will follow suit.