Don's Openings Pt. 2

[Don Bright]

3 fills, 3 winners. (about $1200)....

Now watch for MOC imbalances today. This is one of the days that we can play them. 20 minutes prior to close you will see the "imbalances" published, and again at 10 minutes before the close. You may want to counter the imbalances, and put in the counter-trade before the close.

 

[Babak]

Originally posted by mgkrebs
11 order sets, 3 fills, 3 winners

+36 +14 +8

total net 58 cents.

Congrats! when you say 11 orders is that 11 different and unique stocks that you had buy and sell trades on? Thanks.

 

[Babak]

Originally posted by Don Bright
3 fills, 3 winners. (about $1200)....

Now watch for MOC imbalances today. This is one of the days that we can play them. 20 minutes prior to close you will see the "imbalances" published, and again at 10 minutes before the close. You may want to counter the imbalances, and put in the counter-trade before the close.

Don, if you would excuse my ignorance of NYSE....what are MOC imbalances and how do you know that today is a good day to play them?

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[edited later]
Found this by a search on the web:

Probably the most important extra information on the NYSE ticker is the revelation at 3:40 every afternoon of any major imbalances in the MOC ("market on close") orders that have been sent to the specialists for execution at the last price of the day. If these orders are 50,000 shares or more out of balance on the specialist's book -- more bids than offers or more offers than bids -- he advertises the fact, hoping to draw countervailing bids and offers and take the burden off his own account. A big imbalance may mean he has to buy a lot of stock he doesn't much want to buy or (worse) sell a lot he doesn't own. He has to get permission from a governor of the Exchange to change his own bid or offer by more than $1 if the stock sells for less than $20, or by more than $2 if its current price is over $20. An announcement of an imbalance in MOC orders tells the inside world that there may be bargains in that stock at four o'clock.

http://www.onmoney.com/Editorial/Investing/mayer/tickertape.html

 

[mgkrebs]

yes

 

[Hitman]

Damn, I thought VIA and VIA.B are the same, I got smoked on VIA today (I am replacing that stock with HON), but still a good open thanks to other stocks.

+4 +30 +41 +6, -27, wish I held TYC a little longer and never ever had VIA on my watch list, you can imagine the look on my face when he printed up 30 cents on less than 1000 shares, I was like "hello, I thought you are a big cap?", I almost called technical support guys and asked them why am I missing data that a big cap like VIA should not have an open print of 9100 shares

On a slow, choppy, low volume days like today, I have to say Don's strategy is literally unbeatable off the open, almost impossible to have any break away gaps unless there is major news, too many gap fills

 

[rtharp]

Originally posted by Babak


Don, if you would excuse my ignorance of NYSE....what are MOC imbalances and how do you know that today is a good day to play them?


] [/B][/QUOTE] Triple Witching.....ers to buy/sell at the close Robert Tharp

 

[mgkrebs]

so the strategy is to buy a stock with big buy imbalance immediately before the close and then enter a moc sell order?

How long before the close do you usually enter?

 

[Don Bright]

Originally posted by mgkrebs
so the strategy is to buy a stock with big buy imbalance immediately before the close and then enter a moc sell order?

How long before the close do you usually enter?

You enter the MOC first, and then depending on the second imbalance, pick the time for your offset (buy in this case).

I don't want everyone diving into this, the rules have changed (back in our favor), and we have to experiement for a while before suggesting strategies.

I'm putting together the new strategies for the event in S.F. anyway, so I'll keep you guys posted.

 

[Aaron]

Where are order imbalances published?

 

[Don Bright]

Originally posted by Aaron
Where are order imbalances published?

The imbalances are published on the Redi machine and on the exchange news services (DJ, Reuters, etc.).