Don's Openings Pt. 2

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I had 6 fills. Overall ended up just about scratching. I got filled on CRA and wasn't able to get out with the offer so a profitable trade turned into a loss. Later on I realized I should have taken him off my list as there was news on some Biotech's and the sector was downgraded.

I'm studying some different exit strategies. I've noticed that in this market for a lot of the stocks if I just hold on to them for awhile they tend to fill in their gaps rather well with no real news after awhile. This seems to only work when futures aren't ripping in one or the other directions.

Robert
 
Originally posted by mgkrebs
filled on 5, 3 wins, 2 losers, lost 15 cents net as one of the losers spread on me and cost 31 cents.
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Wow, that's too bad...was your big loss on a buy or a sell on the opening?
 
Don: what do you do if your stock is indicated higher or lower this morning? example: this morning, jpm was indicated higher...(i think it was jpm) my buy order was below the indication....and my sell short seemed low after the stock was indicated....what should i do in this case? adjust the buy and leave the sell? aor adjust both? and by what?
 
Originally posted by nylord1
Don: what do you do if your stock is indicated higher or lower this morning? example: this morning, jpm was indicated higher...(i think it was jpm) my buy order was below the indication....and my sell short seemed low after the stock was indicated....what should i do in this case? adjust the buy and leave the sell? aor adjust both? and by what?
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OK, when the morning indications come out, you should adjust your offer accordingly. Now you know the range for the opening, and you want to be in the top half of that range.....i.e.: If there is a 41.40 - 42.40 range, put in a 42.05 offer or something....(if it closed previously at 40.00)...and forget the bid, since it is out of range for FV calculations.

Don
 
It was short ANF, which has on balance made me money the last couple of months, but does tend to spread a bit, so I think I will dump it from the list.

made money in GM, AA, SBC, lost a nickel in BAC. I think I will stay with the thicker names from here on.
 
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