I trade online with NAB and their site shows us market depth/ detail. As some of U already know that is the number of shares wanting to be bought vs number of shares waiting to be sold, with their respective bidding / asking price spreads.
How important are these data as sometimes I find a share that has a lot more sellers than buyers (in numbers of shares quoted) can actually go up a few % in value and vice versa. At the end of the day ( actually at anytime of the day for that matter) the number of shares bought & sold should be equal.
Is it better to have 100,000 shares waiting to be bought @ 1% below the trading price rather than 1,000,000 shares waiting to be bought @ 5% below the trading price?