I was a wire operator at E.F. Hutton some years back and had a discussion with one of the brokers. It was his thought that a big size displayed bid or offering was indicative of a bullish and bearish scenario, respectively. My position was that it was not.

The only exception, these days, is the trickster naked shorts. Their intention is to mess up the minds of the buyers. So, it is more of a subjective call than it used to be. Eric King at King World News along with some of his guests have observed that large offering from this source sometimes just fade after being displayed for a time during the day.

In my discussion with the broker, it was my position that a large bid is an opportunity for a seller and the large offering is an opportunity for the buyer.