Don's Openings, Part 6 2003

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glad to hear noone got killed on VZ, SBC, or BLS. maybe the ugliest opening ever. no chance to get out. its only a miricle that i avoided the huge loses and did not place orders on these today.
 
Quote from egusc:

glad to hear noone got killed on VZ, SBC, or BLS. maybe the ugliest opening ever. no chance to get out. its only a miricle that i avoided the huge loses and did not place orders on these today.
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I am a little confused - weren't all those indicated much higher than the standard calculations would allow? And wouldn't you adjust the envelopes on those for that ?

nitro
 
Quote from egusc:

glad to hear noone got killed on VZ, SBC, or BLS. maybe the ugliest opening ever. no chance to get out. its only a miricle that i avoided the huge loses and did not place orders on these today.
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don recommends that you dont play news stocks i think.
 
Watch for Opening Indications. If stocks are "indicated" at a much higher/lower price, be sure to adjust your bid/offer accordingly. I try to put my bid/offer in the top/bottom 1/3 of the indicated price.

(I apologize for the "bid/offer" thing, but you know what I mean).

If your bid were to be 41.20, but the stock is indicated 39.00 - 39.75, then I would adjust my bid to around 39.25 or so.

New stocks...hmmm, it really takes some time to explain....You want to stay in if the news is going to make the stock open way, way up (or down), but if it just a "wmt plans on opening 100 new stores next month, yada yada, " then you really just don't know what to expect, and you might figure that there will be a follow up news report or two that may cause problems. Bad news = stay away....good news= ok, but don't be greedy.

Back to you all later...

I'll be in Ft. Lauderdale this weekend..Royal Money Expo ....if anyone wants to come by....

Don
 
Is there a possibility, that the specialist doesn't execute a oo-order?
Today I had a buy oo-order for TIF with a limit at 25.30 and it opened at 25.25 but my order wasn't executed.
I am definitely sure that the order was active I even saw it turn red after the stock was opened.

for this one I'm glad it didn't execute, but I had the same problem a few weeks ago and this would have been a big winner.
Since then I monitor my orders carefully.

I use IB.
 
Quote from docarzt:

Is there a possibility, that the specialist doesn't execute a oo-order?
Today I had a buy oo-order for TIF with a limit at 25.30 and it opened at 25.25 but my order wasn't executed.
I am definitely sure that the order was active I even saw it turn red after the stock was opened.

for this one I'm glad it didn't execute, but I had the same problem a few weeks ago and this would have been a big winner.
Since then I monitor my orders carefully.

I use IB.
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I use IB and ever once in a while i have my order not filled. I have never heard a good explaination. Some have said the order needs to be in 2 minutes before the open and i know many of my orders are in 10 minutes before the open.

I have tracked my orders to see how many fills get ignored and it is very infreaquent so i have just stop tracking no fills or trying to figure it out.

I also have a problem that my normal limit orders get ignored and are not shown in the quote on the NYSE. I usually cancel that order and replace it and the new order gets filled, often at a much better price. I really which i could get to the bottom of that.


Good luck
 
Other than the 2min rule....hard to say. maybe ask IB to trace the order back the exchange. I send 40 OO orders every morning with IB...I have never really noticed a fill that I thought got missed....but honestly I haven't checked every day/every order in detail. I'd be interested to see if IB can give you an explanation.

cas
 
Upped my positions to 800 shares.
9 fills
4 winners
was down a e few hundred but a few stocks came back around in my favor. Managed to squeeze out $81. (.10 net)

With the market opening down .6% and me having a .8% envelope I got filled on 9 shorts. Basically if a stocked opened flat I was getting short. I have to widen my envelope a little.

But again today was a good learning experience. Its all about getting the proper thought process.
 
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