Don's openings and more for 2005

I use cbsmarketwatch, realmoney.com and tradethenews.com

I pull most stocks with news, but if I keep it on, I will reduce the size. I never adjust prices based on indications.

Sometimes news stocks are great, other times they're terrible. Just depends how you like to trade 'em.

Today was oh so close to a super day, but two stocks cost me over 4 grand. Ended up -$350.
 
Don

I'm don't understand why limit orders are dangerous to use for the openings. If you don't get filled on the open then shouldn't your price be even better than the opening price? Any clarification would be appreciated.

Thanks
 
Quote from mnx:

When do you guys put out your orders?

Do you wait until after 9:25 to avoid the billable fee?

matt
More...

Our traders don't get 5 minute fees anyway (for the most part), and opening only orders shouldn't be billed anyway. I put mine in between 9:22 - 9:28 (to assure the 2 minute TIF).

Don
 
OUCH!!

9 fills, 100 shares each. -327$ 7 long, 2 short. Both shorts were winners, only 3 long winners.

Lost large on NOV and AHC.
Made small bits on CEG, DIS, DYN, HSP and UIS.
Small losers on VC and MYL.

I think the lesson of today is to avoid Oil at all costs!!!!!

I accidently turned my 100 share into a 200 share position on AHC near the highs of the day. Had I put a sell order in instead, I might have been much closer to break even...

Anyone else avoid Oil on the open??

mnx
 
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