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In a message dated 98-01-07 09:17:36 EST, you write:
<< In a discussion I had with an Omega tech support person a few months ago,
he explained the source of their tick data is also BMI. Therefore, if BMI
errored in sending a horribly inaccurate tick early in the trading day
for a stock, then the Omega OMZ files are similarly corrupted. They say
they have NO OTHER source for this tick data as they only receive data
from BMI. It seems that in this case, the original error lies in BMI
transmission.
David Chan
>>
Unfortunately, this is only half correct. What the guy at Omega did not
tell you was that the second part of the problem is caused by the way
TS stores the tick data which is based on the net change relative to the
first tick. If the first tick is off, TS will allter the value of all
subsequents
ticks during the whole session. This method was apparently chosen to
save space on the HD but it leads to messed up -- and unusable -- data
if the first tick happens to be a bad one.
Changing the initial bad tick will not correct the mess. It will only restore
the next 59 ticks. To correct the data for the full day one has to go
manually through the whole file and replace the altered value of the first
tick in each group of sixty ticks with a correct value -- a painfully slow
process that only someone who had to correct a 18,860 tick file can
appreciate.
>From the comments made on this list it is clear that those who seem to
take pleasure from making light of of this problem are those who never
had to go through such process. But that should not stop those of us
who are affected by this defficiency to demand from Omega to simple
utility program that would convert the remaining data once the initial
tick is corrected.
IU
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