Don's openings Part 3

Originally posted by Don Bright
I held the FNM, and ended up $2000 for the day....this opening took al little longer than normal.

Don
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Don, I just checked the TOS for FNM from yesterday. Obvisouly you got filled on the short at the open and you held on. My question is what did you do at 09:34:56 when the big bid showed up (455 @73.09)? Why didn't you cover? I don't trader FNM at all so I'm not familiar with that stock but with that kind of bid size I think most people would've just covered it.

I haven't entered a lot of my OO stocks at pre-open because I'm overwhelmed by the earnings everyday. Do you handle it differently during the earnings season? For example, AOL had bad news today and do you just ajust the buy side to the pre-market indication or just not do it at all.
 
Originally posted by mrktrend


Don, I just checked the TOS for FNM from yesterday. Obvisouly you got filled on the short at the open and you held on. My question is what did you do at 09:34:56 when the big bid showed up (455 @73.09)? Why didn't you cover? I don't trader FNM at all so I'm not familiar with that stock but with that kind of bid size I think most people would've just covered it.

I haven't entered a lot of my OO stocks at pre-open because I'm overwhelmed by the earnings everyday. Do you handle it differently during the earnings season? For example, AOL had bad news today and do you just ajust the buy side to the pre-market indication or just not do it at all.
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I keep the orders in, and adjusted for beta's and news....except yesterday where I "chickened out" on the drug stocks....Would have have made great money!!

Don
 
Originally posted by mrktrend


Don, I just checked the TOS for FNM from yesterday. Obvisouly you got filled on the short at the open and you held on. My question is what did you do at 09:34:56 when the big bid showed up (455 @73.09)? Why didn't you cover? I don't trader FNM at all so I'm not familiar with that stock but with that kind of bid size I think most people would've just covered it.

I haven't entered a lot of my OO stocks at pre-open because I'm overwhelmed by the earnings everyday. Do you handle it differently during the earnings season? For example, AOL had bad news today and do you just ajust the buy side to the pre-market indication or just not do it at all.
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Originally posted by Don Bright


I keep the orders in, and adjusted for beta's and news....except yesterday where I "chickened out" on the drug stocks....Would have have made great money!!

Don
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Don, I'm not sure if you answered my question on FNM. Adjusting the beta and news certainly didn't make a big impact on why you held on. You made $2000 on it on July 17. You held on for quite a long time and my question was what made you to hold on when you saw that big bid???? Can you give me a straight forward answer? Thank you.
 
Originally posted by mrktrend
Originally posted by mrktrend


Don, I just checked the TOS for FNM from yesterday. Obvisouly you got filled on the short at the open and you held on. My question is what did you do at 09:34:56 when the big bid showed up (455 @73.09)? Why didn't you cover? I don't trader FNM at all so I'm not familiar with that stock but with that kind of bid size I think most people would've just covered it.

I haven't entered a lot of my OO stocks at pre-open because I'm overwhelmed by the earnings everyday. Do you handle it differently during the earnings season? For example, AOL had bad news today and do you just ajust the buy side to the pre-market indication or just not do it at all.
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Don, I'm not sure if you answered my question on FNM. Adjusting the beta and news certainly didn't make a big impact on why you held on. You made $2000 on it on July 17. You held on for quite a long time and my question was what made you to hold on when you saw that big bid???? Can you give me a straight forward answer? Thank you.
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lsorry about that...when I wrote my first post regarding P&L, I was down $2,000 on FNM, and it came back to only down about 900...which moved my profit from 1000 to 2000.....(It opened up, showed a gap offer, which I tried to get, but it never printed....did so only up a few cents).

Hope that clarifies...

Don
 
3 for 3 + 1280.

I had a trader/visitor here watching over my shoulder this morning...and I was able to show a "textbook" example of a "shakeout" in MRK. It opened up a penny (legal short sale on a big down morning) 42.01...and went up .30 cents....but LLY and PFE and the rest were weak, so I held it for 2 minutes, and it came down so I could cover it at 41.77 for a .24 profit.

The other two were pretty standard.

Don
 
Thanks Don. So you were long on that. I must misunderstood your post. That was nice on Merck. I would've shaken out by him.
Didn't enter OO today at all which I'm glad I didn't. I'm looking at my spreadsheet and it shows all losing trades.
 
Originally posted by vhehn
monday should be a big oo day.if we get the gap down everyone expects there should be some nice fills.
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We'll see Monday...which is a "lifetime" away...:-)

Don:)
 
Well, Monday turned out to be a great opening only day...+$2220, 6 out of 7 (almost 7 for 7 but FRE only gave me half when I covered at a profit, I had to pay up a bit for the balance).

We are so "news sensitive" this week with earnings and the Wcom bankruptcy etc., that the trading volatility should be good. I wouldn't suggest getting any "opininons" on direction of any stock (I never "recommend it, but more so this week). Trade 'em.

Don
 
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