Don's Openings Pt. 2

nylord1 · May 2, 2002

Originally posted by Don Bright

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

don:

should the offer still be within my FV envelope? (.7-1.0) or is it just good enough to place the offer in the upper half of the indication?

nylord1 · May 2, 2002

don:

Also for those out there who don't have platforms that provide pre indications for a stock, how important is it really to adjust for them? I know a few people that don't have redi like you and me........

Don Bright · May 2, 2002

Originally posted by nylord1
don:

Also for those out there who don't have platforms that provide pre indications for a stock, how important is it really to adjust for them? I know a few people that don't have redi like you and me........

If they don't have indications, they shouldn't be trading like this.

( "My surgeon doesn't have sharp scalpels, does it matter?") :-)

Don

Don Bright · May 2, 2002

I got stuck a bit in BMY (stubborn), ended up flat for the opening. Had to ride GS up and down as well, but ended up ahead with it.

Good trading!!

Don

mgkrebs · May 2, 2002

made 30 cents in sgp, gave it back in bmy. flat day.

Don Bright · May 3, 2002

Flat opening, and I'm going to .7 or less this morning (we'll see in a few minutes).

You might try individual sector orders. Break up your stock list into sectors, and then adjust the sector for your adjusted beta, or simply for your "gut feeling" based on past performance.

Just trying to keep you all on the right path!!

Don

The edge · May 3, 2002

4 stocks, 8 orders, 3 fills on .8%, 2 winners and 1 scratch for a gross profit of 33 cents

rtharp · May 3, 2002

Only one fill today. I also had adjusted my envelope to .09% instead of 1%

gross about .12

Robert

Don Bright · May 3, 2002

You guys did a bit better than I did this morning...."accidentally" added to a losing position by hitting buy instead of sell....so now I'm being stubborn....(Hey, it happens to the best of us).....

Good aol and lly however...

Don

Eugene · May 3, 2002

Don, LLY was good to you, but to most it was about a .20 loss. Did you tell your traders to hold down to 66.6-66.80? I doubt most would hold that long. Did you play the bounce with a new buy? I broke my 10 minute rule. If it doesn't open by 9:40, cancel.

Good job