Don's Openings, Part 6 2003
- Thread starter Don Bright
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"Amen"....
Don
Not a lot of fills, but the ones I got were good:
5 fills
5 winners
Which is 60 cents total
Got smart and added the Distance From Day High and Distance From Day Low fields to my quote monitor. Made it much easier to watch any retrace.
I've decided to change my reporting style and do the total pennies made as my trade size is the same for all my stocks. Now I'm in synch with Don.
Cash
5 fills
5 winners
Which is 60 cents total
Got smart and added the Distance From Day High and Distance From Day Low fields to my quote monitor. Made it much easier to watch any retrace.
I've decided to change my reporting style and do the total pennies made as my trade size is the same for all my stocks. Now I'm in synch with Don.
Cash
Filled on 4, had 4 winners...textbook opening....Up $860 (43 cents).....
Now, back to the "game".....
Don
Now, back to the "game".....
Don
Quote from cashonly:
Not a lot of fills, but the ones I got were good:
5 fills
5 winners
Which is 60 cents total
Got smart and added the Distance From Day High and Distance From Day Low fields to my quote monitor. Made it much easier to watch any retrace.
I've decided to change my reporting style and do the total pennies made as my trade size is the same for all my stocks. Now I'm in synch with Don.
Cash
OK, I am assuming you made a total of 60 cents....good job!! You "engineer-types" are always trying to come up with more "stuff" to look at...The Day High, and Day Low should be on the screen anyway....keep the profits coming...!!
Don
Ended up a good day but it could have been a lot worse. Had 4 fills and 4 winners, but one of them really hurt for a while. It eventually came back for me and I got a small profit. It actually would have been a large profit had I held even longer, but I was just happy to be able to get out even.
All total made .60 cents
All total made .60 cents
A thought about stocks with news out pre-opening.
Some of you say you avoid any stocks with news out; others say it depends what the news is. Regarding, say, earnings guidance announcements I've seen times when a stock opens down two points on negative news and that is the HIGH trade of the day. It goes down two more points. Other times a stock opens down 2 and it shoots right back up. Dramatically different results if you bought it on the opening. Obviously we don't know in advance which of these senerios will occur. What does that say about this issue as it relates to the oo strategy?
Any comments?
Some of you say you avoid any stocks with news out; others say it depends what the news is. Regarding, say, earnings guidance announcements I've seen times when a stock opens down two points on negative news and that is the HIGH trade of the day. It goes down two more points. Other times a stock opens down 2 and it shoots right back up. Dramatically different results if you bought it on the opening. Obviously we don't know in advance which of these senerios will occur. What does that say about this issue as it relates to the oo strategy?
Any comments?
This is really subjective....I am not overly concerned if I see an imbalance number (pre open indication), and adjust my bid/offer accordingly.....This is a game of consistency.....and since we put in 20 orders every morning....keeping or deleting one due to news shouldn't make a big difference.
"Gee if I only woulda stayed in, I woulda made money".....or "Gee, I knew the earnings were out, how could I be so stupid?"
I realize that you're asking for some thoughts on the subject, but there really isn't any.....I, personally, keep most of them in, and just adjust prices as mentioned above.
Don
Thanks Don for your comments.
Here's a problem as I see it. You're executed on an order and are now long a stock that opened down $1. Stock immediately trades 30 cents lower with nary an uptick. Now I've read your posts before where you warn about "shakeouts" and suggest hanging on for the rebound. But, without a crystal ball, how can you know when it's a "shakeout" and when the selling is real and serious (like points more to go on the downside). Other times you seem to recommend cutting your losses and "getting back in the trade at a better price". Could you please address what seems to be a contradiction. Thanks.
Here's a problem as I see it. You're executed on an order and are now long a stock that opened down $1. Stock immediately trades 30 cents lower with nary an uptick. Now I've read your posts before where you warn about "shakeouts" and suggest hanging on for the rebound. But, without a crystal ball, how can you know when it's a "shakeout" and when the selling is real and serious (like points more to go on the downside). Other times you seem to recommend cutting your losses and "getting back in the trade at a better price". Could you please address what seems to be a contradiction. Thanks.
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