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I have a large opening order watch list (87 stocks currently, but it varies), which I track every day. If I had placed orders for all the stocks on my list today, I would have had 23 fills, which is much higher than normal. Of the 23 fills, only 5 would have resulted in winners and 18 would...

1 winner, $0.23 net

To everybody, How long do you stay in a stock that has a delayed opening (assuming no news)? Does anybody have a rule of thumb? How long of a delay on the open makes you nervous, so that you think there may be something unanticipated about the stock? Ideas? Rules?

I took MMM off my list this morning because of the CSFB upgrade.

Don (and everybody else), I took BMY off my list this morning because of the news. Reuters reported, "BMY ... warning its 2002 profit may fall up to 46 percent on weak sales of major medicines." BMY turned out to be a winner today, but it could have easily gone the other way, if the...

Got it. Thanks Don.

Okay, I understand that the sell order must be above the prior day's closing price in order to get a fill on a short sale. What about your buy order? Suppose the pre-market opening indications are very positive and your calculations tell you that your buy order should be above the prior day's...

Or, is the minimum upper boundary of the envelope (sell order) the previous day's close and the maximum lower boundary of the envelope (buy order) the previous day's close (forgetting about the extra penny either way). This is assuming you are not using bullets, of course.

Just to clarify... the upper boundary of the envelope (sell order) should never be less than the previous day's close + $0.01 and the lower boundary of the envelope (buy order) should never be more than the previous day's close - $0.01. Is that correct? For example, there were several stocks...

Don (and everybody else that is contributing to this great thread), If a stock on your list has a delayed opening, do you play it, or do you cancel those orders? For example, the opening for GS this morning, which I believe is one of the brokers on your list, was delayed by about five...

def, You made a post earlier in this thread indicating that IB now offers OO orders. Does IB allow you to use OO orders to place a buy and a sell order on the same stock at the same time, as this system requires?

Are all of you that are using this stragegy using Limit On Open orders or Market On Open orders?

I have several trading ideas/strategies that I would like to back test. However, I do not know what all of the choices in back testing software might be? Does anyone know of any back testing software besides Trade Station? What are your recommendations? Is Trade Station the only option...