Don's Openings, Part 6 2003
- Thread starter Don Bright
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Most of the winners were small, between 5 and 9 cents per share.
5 Fills, all gold stocks, all shorts, all losers.
Did I miss something, can't find anything.
Weird, how did everybody else miss getting a fill on one of these? Have you all thrown out all the gold stocks? I am considering it.
Did I miss something, can't find anything.
Weird, how did everybody else miss getting a fill on one of these? Have you all thrown out all the gold stocks? I am considering it.
These types of stocks are more influenced by and move more with other traded futures than the spoos. It makes sense for the oil futures to influence oil/oil svcs. stocks, and gold futures to influence mining stocks, and so on.
When I first started OPG orders several years ago it didn't take long for me to avoid these types of sectors. They more often than not turned into my biggest losers until I started staying away. (and fading the strategy doesn't work either).
That is all.
BigMike
When I first started OPG orders several years ago it didn't take long for me to avoid these types of sectors. They more often than not turned into my biggest losers until I started staying away. (and fading the strategy doesn't work either).
That is all.
BigMike
Yeah, you missed the fact that gold stocks are generally anti-correlated to the S&P 500. If you are basing fair value on S&P futures, the numbers you come up with for gold stocks will be meaningless.
Not saying a plain old gap fade trade can't work, but that's not the same as opening orders like you're doing.
Yeah,
I may just throw the gold stocks out. I have had some good moves out of them from time to time, but I suspect that overall, they have been net losers.
I may just throw the gold stocks out. I have had some good moves out of them from time to time, but I suspect that overall, they have been net losers.
Good Holiday....Fair Tuesday.....
3 winners out of 3 today....+17cents.
Check out our little article if you missed it on the other thread ....
http://www.reviewjournal.com/lvrj_home/2003/Sep-02-Tue-2003/business/22034693.html
3 winners out of 3 today....+17cents.
Check out our little article if you missed it on the other thread ....
http://www.reviewjournal.com/lvrj_home/2003/Sep-02-Tue-2003/business/22034693.html
2 Small winners
WFC +.10
VSH +.08
Not exactly tearing it up here are we..
WFC +.10
VSH +.08
Not exactly tearing it up here are we..
strange.. yesterday I had about 10 fills on 500 share lots (using my parameters that have given me consistantly good profits for a month now) and I got my arse handed to me big time.. -$500 is a decnet loss for me on opening orders...
other guys at my firm got hurt also. It turns out, the reason is that after 9:15 the market flattened out and openend up rather flat, so the fills we got werent really based on the futures 9:15 value... I guess I learned a valuable lesson on monitoring teh SPU;'s after 9:15 and planning accordingly...
alos, I have been using a .10 trailing stop that has kept my losses low, but stopped me out of potential big winners. Yesterday I exited all trades manually in order to "maximize my profits"....
Needless to say, I picked the wrong day to experiment with this.... using the old auto exit would have kept the losses around .15 with slippage... instea I had a couple of .25 and a few .30's..
that is what I get for being greedy and messing with a good thing.....
Quote from mdl060374:
strange.. yesterday I had about 10 fills on 500 share lots (using my parameters that have given me consistantly good profits for a month now) and I got my arse handed to me big time.. -$500 is a decnet loss for me on opening orders...
other guys at my firm got hurt also. It turns out, the reason is that after 9:15 the market flattened out and openend up rather flat, so the fills we got werent really based on the futures 9:15 value... I guess I learned a valuable lesson on monitoring teh SPU;'s after 9:15 and planning accordingly...
alos, I have been using a .10 trailing stop that has kept my losses low, but stopped me out of potential big winners. Yesterday I exited all trades manually in order to "maximize my profits"....
Needless to say, I picked the wrong day to experiment with this.... using the old auto exit would have kept the losses around .15 with slippage... instea I had a couple of .25 and a few .30's..
that is what I get for being greedy and messing with a good thing.....
Send your orders in 3 or 4 minutes before the opening bell, using the emini's as your gauge. Small slingshots" (from .05-.12) is what I've been using.
Don
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