Don's Openings, Part 5

I covered PFE when it came back to 33.49 since it "gapped up" 40 cents when it traded 34.00, I figured that was short term high, so I waited.

BMY was all over the place, I looked for the market to rebound, and bought it at 26.72 (traded back up to .90 cents, so I felt it was a good cover, as long as we can "get back in" at better prices).

Don
 
(this has probably been spoken to before, however, there are reems of pages on these topics, so I'll ask it, although it might have been asked before)

Don

this is one of the few times that I envy Redi+ as a plaform, that is regards listed stock trading.

question: do you use or prefer using NYSE+ or just NY/AM for fast execution when you're covering, like your example of PFE?

(P.S. enjoy the trip to the Islands...)
 
Originally posted by limitdown
(this has probably been spoken to before, however, there are reems of pages on these topics, so I'll ask it, although it might have been asked before)

Don

this is one of the few times that I envy Redi+ as a plaform, that is regards listed stock trading.

question: do you use or prefer using NYSE+ or just NY/AM for fast execution when you're covering, like your example of PFE?

(P.S. enjoy the trip to the Islands...)
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I use a "nonbillable" day order (no charge for over 5 minutes in case I forget about it) for most of my orders. I sometimes will hit the NX key if I only have a small number of shares. We have some neat new features on Redi that allows for quick "tier-ing" of order pricing, which also helps. Today I had a 11 cent bid in to cover CCU, he printed 10 cents, so I clicked one key and brought my bid down to 8 cents, and he filled me even lower at 2 cents, which was kinda cool. I really like the NYSe price improvements.

Yeah, I'm looking forward to the trip...than back to Orlando before coming home (I can tie in Disney and Epcot with the expo that we'er doing).

Back to you!! :)

Don
 
More stocks are opening with gaps larger than the envelope and not giving anyone a chance to get out with a profit. They move quick and hard and can sucks days of profits in minutes. I get the feeling that too many traders are using this system.

I now realize or at least believe that Don's Redi system is far superior to IB for trading the NYSE open. Many times my order gets ignored or traded through and i then have to replace my order with a worse price, sometimes this happens several times, each with a larger loss.

Good luck
 
Well.. we've hit a pothole on the road to success.

Yesterday, I had LLL short and got +.55... so far.. so good..

I also had FRE long.. it bobbled around for several minutes.. looked like it was going a bit higher.... maybe...

Then just as I put a sell in for about +.15 or so... poof, the bid starts dropping away.. fast.

I tried NYSE+ with 10 on the bid.. was ignored

It dropped some more. I tried leading the bid by about .15 lower..

was ignored and it dropped some more.

Finally I got filled at the exact bottom of this little downdraft for

-.59

It is a rigged and crooked game we play here.

But I am improving my outlook. It doesn't bother me as much anymore when these things happen, I know it is something that cannot be avoided all the time.

We are trading blind for the most part, and, most of the time, can only guess at where the true price is at.

Today I didn't get killed, but didn't do well either.

AZN short.. -.06

SAP long -.06

STM long -.09

All three of these gapped big.... then simply did not move. I knew AZN had had news yesterday, so I was quick on the trigger with it, although I did give it several minutes, but my hand was at the ready.

Then there is KSS.... It also gapped big, and wandered slightly downward forever. ...... and ever.... Finally booked +.30 at 10:00.

THEN the SOB drops like a stone a couple minutes later.. :mad:

Ah well, such is the business we are in.
 
Better day today.

Got AZN short again.. got rid of it again fairly quickly too. Next time it gets an even wider envelope. :D

Short AZN -.20

Long SWY -.20, it had news, I widened the envelope significantly, got it anyway. Wide envelope or not, it went down initially. Could have held and got a little something, but wasn't up to holding it going down.

Long AET +.53

Long HRB +.75 (take that you rascal....)

Long MCD +.54

Have a good weekend all,
 
Quote from Don Bright:

We haven't been away for quite a while, so I figured I'd have my "casino host" here in Vegas set me up with some comp nights on the islands, play some cards, do some diving (it's been a while, I was certified in 1971, but haven't "gone down" in a while)....

One of our traders has graciously offered to pick us up at the airport and show us around....and show me some possible Bright Trading office locations....who know, maybe a boutique location would be cool...if there is adequate connectivity.

I'll keep everyone updated....

Don

scuba_dive_md_blk_12373.gif
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Don,

I officially offer to run the Aruba office.

nitro :)
 
In Curacao now...having a great time, can't spend too much time on the computer for a couple of days.....I'll be back in touch in a couple of days...

Keep doing the openings!! Make some money!!

Don :cool:

Don't forget about our event in Orlando, on the 22nd and 23rd of November!!
 
Quote from Don Bright:

In Curacao now...having a great time, can't spend too much time on the computer for a couple of days.....I'll be back in touch in a couple of days...

Keep doing the openings!! Make some money!!

Don :cool:

Don't forget about our event in Orlando, on the 22nd and 23rd of November!!
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Even on Vacation, you remember to pimp your upcoming event.

You can take the man out of Las Vegas, but you can't take Las Vegas out of the man......
 
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