Out after only 2 prints in the wrong direction...that sounds like a definite "shake out" .....sorry to hear that, and "of course" it went up...bummer...
Don
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Don's Openings Pt. 2
- Thread starter Don Bright
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Out after only 2 prints in the wrong direction...that sounds like a definite "shake out" .....sorry to hear that, and "of course" it went up...bummer...
Don
Filled on 5, profits on 3 (covered TXN too soon).
Don
Don
Got 2 stocks this morning, MMM long at 123,97 and HON short 36,60, lost on both. MMM did as yesterday shakeout initially but I held on got after being down 30 cents, started to pick on initial opening price and I wanted out. Listen to what happened: he had enough stocks on the bid and I sent a sell order for 97 cents, filled me with 300 (I had 1000), then printed 98 for 9000! kept on printing 97 (my order stil partially filled) and then even with bids took it down to 85 and then 80 where I got out with another order. Is this legal?????????????????????????????????????? I am tempted to give the governor a call, what do you say Don?
Originally posted by The edge
Got 2 stocks this morning, MMM long at 123,97 and HON short 36,60, lost on both. MMM did as yesterday shakeout initially but I held on got after being down 30 cents, started to pick on initial opening price and I wanted out. Listen to what happened: he had enough stocks on the bid and I sent a sell order for 97 cents, filled me with 300 (I had 1000), then printed 98 for 9000! kept on printing 97 (my order stil partially filled) and then even with bids took it down to 85 and then 80 where I got out with another order. Is this legal?????????????????????????????????????? I am tempted to give the governor a call, what do you say Don?
You could have had a review of the situation if you had left your order in. You can't go back for fills if you close the position at a different price (this is a bit tough since you don't want any additional risk).
Thank goodness this rarely happens. If you were in my office, I would have called the exchange for you....sorry....
Don
Originally posted by The edge
Got 2 stocks this morning, MMM long at 123,97 and HON short 36,60, lost on both. MMM did as yesterday shakeout initially but I held on got after being down 30 cents, started to pick on initial opening price and I wanted out. Listen to what happened: he had enough stocks on the bid and I sent a sell order for 97 cents, filled me with 300 (I had 1000), then printed 98 for 9000! kept on printing 97 (my order stil partially filled) and then even with bids took it down to 85 and then 80 where I got out with another order. Is this legal?????????????????????????????????????? I am tempted to give the governor a call, what do you say Don?
If this ever happens DO NOT cancel the order. If you feel you deserve a fill you didn't get. CHANGE the order HEAVILY away from the market but keep the order live!!! This is a must. Call DOT services and complain like nothing you have ever seen.
Specialist will tell you F off there was stock ahead. If this happens tell floor manager to get involved. The specialist can not take inventory if this happens and they will check.
Happens every once and awhile.
Opening orders have been getting better for me every week, and i think a lot of that has to do with gradually weeding out the stocks that always fake me out, have big gaps and just give crummy fills. If I get a couple bad fills (like Don's LEH example recently), I place the stock on 'watch' and enter my order for less size. This allows me to give the stock more wiggle room and really learn how it trades. If I think it's just a jerk specialist, I take the stock off my list.
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