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A great day snatched away by PRU. Friggin' crushed in that guy today. Down a couple hundred overall, despite being short 5000 PRU and holding all the way down. Damn!

If you can wait it out, have some balls and cheap carry costs, you could spread some GM preferreds against the common. You would get paid 4-5% on the yield spread to hold the position. The common would disintegrate well before the preferreds.

I'd like to hear some feedback from anyone who uses or has back tested LBR's "oops trade"

That is a very dangerous assumption to make. The specialist may or may not be on board with you, and you have no way of knowing. I never factor specialist participation into how I trade openings. ORM has it right. Success with openings is more about trading ability and experience. The...

Yes, rates are one thing, but how much leverage you get and how much capital you have to put up can be big factors as well. Can you hold overnight positions? What do you pay for haircut? Do they hold your money for a year?

I have to strongly disagree with the above statement. A professional trading firm that requires members to put up capital in exchange for leverage, software, etc is doing nothing more than offering a service for a cost (commissions). The same way most other businesses are run. Many make no...

Fill rates have been in constant decline for years, mirroring market volatiltiy. There are periods where it spikes, and several busy days. Generally though, I'd say don't hold your breath. You have to either try to take more size on the fills you are getting, tighten your envelope or add...

"Buy the rumor, sell the news" One of the oldest trading axioms around

I got filled on that same spread at .75 right at the close (4:04 actually). Only a partial fill though, my order was for 20, only got 5. I'm at IB

Yep, same here. Lots of fills, looking very good early on, then kss and jcp slaughtered me. Went from well over $2k profit to down a couple hundred bucks pretty quick.

Regina? I'm in Saskatoon and figured I was the only guy between Calgary and T.O. "us", you mean there's more than one of you? Take care, stubble-jumper. lol

Assent has been pretty good at locating stock for me, but at outrageous prices. How about 5-10 cents/share for a stock with a 10 cent daily range? Or 30 cents/share for a larger cap stock. Oh and that's just to release it to your account, if you don't execute a trade, you still get billed.

This is part two of the reweighting they did in March, switching from a capitalization to market float weighting. Does anyone have any info on the stocks and their estimated buy/sell size on the close? I can't find a list anywhere.

Sorry dude, i'm just a guy sitting behind some screens hitting buttons. The only thing I'm an expert in is counting money.

In a reorganization, the bondholders usually still get something, whereas the equity is wiped out. I want to see how the debt trades, to get an idea what bondholders are expecting to salvage here.

The common will probably go otc eventually. DAL has preferred stock, which is basically the same as a corporate bond, that trades on nyse. These will likely remain listed. I'm long DNT and CYA.

I hope you are wrong Mike, but I agree with you.

Patrick doesn't post losing days because he doesn't have them! He's by far the most consistent trader I know. Amazing actually. And to the doubters that want to call bullshit, I say too bad, so sad. Just cause you and those you know can't do it, don't mean it ain't being done.

You gotta go back, way back to the old day's of Don's threads. Search for "Don's Openings" and look for the original thread, sometime around late 2001/early '02.

You are correct. The idea is to sell if it's "too high", buy if it's "too low" relative to where it "should" open. You are fading that gap, looking for it to come back in line. Don's angle on it is to be on the same side as the specialist, who may be participating in the print to offset an...