Don's Openings, Part 5
- Thread starter Don Bright
- Start date
Yes, I modify the buy and sell to reflect the day's anticipated activity...I didn't really wan to buy much in a big up market, but didn't mind selling so I widened the buy, and kept the sell at 1% (from FV).
Don
For "breakouts", check out MER for example:
he gaps it up $1.00 and runs it from there
close at 35.90
open at 36.90 and that is the low
Also LEH, he gapped it up $2.00, and that was the low!!
SBC is another, although he came down .10 before he ran it.
I call these "anti-opening" orders
he gaps it up $1.00 and runs it from there
close at 35.90
open at 36.90 and that is the low
Also LEH, he gapped it up $2.00, and that was the low!!
SBC is another, although he came down .10 before he ran it.
I call these "anti-opening" orders
Originally posted by eastside
For "breakouts", check out MER for example:
he gaps it up $1.00 and runs it from there
close at 35.90
open at 36.90 and that is the low
Also LEH, he gapped it up $2.00, and that was the low!!
SBC is another, although he came down .10 before he ran it.
I call these "anti-opening" orders
Good point to bring up. When using FV calculations, we would have been a buyer of these stocks, as opposed to a seller, because our FV envelope was up 25 S&P points this morning.....thanks for this....
Don
Cut the number of stocks down to about 50 this morning so I wouldn't get too many fills. Still got 15 positions, 8 longs, 7 shorts. Finished with 8 wins, 5 losses, 2 scratches, +$2.35. Two huge winners accounted for most of the profits.
One downside of a lot of positions is you don't always notice that you've gotten a fill. I didn't see that I was long 1600 WMT until I was already down $400 in it. Despite losing two grand yesterday and tuesday, the week is looking pretty good.
Eastside- I do the same thing as you, cast out a ton of buy orders for stocks that might only open up a little. No fills today or Tuesday.
One downside of a lot of positions is you don't always notice that you've gotten a fill. I didn't see that I was long 1600 WMT until I was already down $400 in it. Despite losing two grand yesterday and tuesday, the week is looking pretty good.
Eastside- I do the same thing as you, cast out a ton of buy orders for stocks that might only open up a little. No fills today or Tuesday.
Lescor, Eastside,
You have given me something else to think about.. As if I don't have enough.
Had a tolerably decent opening.
CSC was a late opener, but this time I left it in. Didn't adjust my price, but I will try to think about that in the future.
Gads.. it is busy at the open
short ACS -.10
short CSC +.41
short MAS +.80
short MAT +.20 out by the hair of my chinny chin chin..
short SDS +.30
Long NEM -.09 shook me off, then ran up nicely.
You have given me something else to think about.. As if I don't have enough.
Had a tolerably decent opening.
CSC was a late opener, but this time I left it in. Didn't adjust my price, but I will try to think about that in the future.
Gads.. it is busy at the open
short ACS -.10
short CSC +.41
short MAS +.80
short MAT +.20 out by the hair of my chinny chin chin..
short SDS +.30
Long NEM -.09 shook me off, then ran up nicely.
OK, I thought I understood this, but you've just thrown me a curve:
Its the "we would have been a buyer" part of Don's reply that is confusing. I don't see the long target calc'd at 36.90 unless the envelope was narrowed to about 0.25%.
So the +25 spoos from 860 says look for +2.9% in the morning. If your envelope is 1% (+0.5% and -0.5%) then MER's 10/16 close at 35.90 makes the LOOs short at 37.12 and long at 36.76. MER opened today (10/17) at 36.90, so neither would have filled, right?
Its the "we would have been a buyer" part of Don's reply that is confusing. I don't see the long target calc'd at 36.90 unless the envelope was narrowed to about 0.25%.
Don't be confused....I was simply pointing out that we "would" have been a buyer, as opposed to a seller using the amount of S&P movement on the opening....
Don
Don