ES Journal - 2012

[ammo]

sh 73,not sure what you are asking josh,they are always putting in fake orders pulled at 1 second before open

 

[mastacoli71]

Quote from JoshDance:

I have a question regarding the open, which takes place in a few minutes.

Right now I see this, which is basically saying the market is at 75.

http://screencast.com/t/LokbjcXduIH

What determines that the market is at 75? After the auction process begins and is ongoing, if I offered lower than the market, I would buy at the market; however, when the market is auctioning to open as it is now, what if someone offered many many contracts at say 69? Theoretically we can have bids and offers at every price all up and down the scale. So, who or what determines what the current "best bid" and "best offer" is?

A shift just now happened--determined by what? Could I have left a bid in and held the market up at 75--did everyone just pull so that it lowered?

http://screencast.com/t/xG348c53

I did a search for some info but did not find any yet. Any info would be appreciated, thanks.

it's probably just indicated open based on current bids and offers prior to open. like ammo said, they can be pulled anytime before open.

 

[fishing]

the matching price is determined by the amount of bids above and amount of offers below the matching price.

the matching price is determined such that whoever bids/offers better than matching price will have their orders filled at the open (plus orders near the front at the matching price)

in your first picture, it was matching at 75 because there were 125 lots on the offer from 75 downwards but there were only total 33 lots on the bid from 75 upwards

so if it stayed that way, 33 lots on the bid would get filled at 75, 33 lots on the offer (best price) would get filled at 75

so if you offered 200 lots at 63, you'd move the matching price down

 

[ammo]

Quote from ammo:

sh 73,

add 69.25

 

[ammo]

rth cleavage 90 day

 

[ammo]

daily nip 1st supp below cleave 59-57

 

[fishing]

Merkel-Sarkozy meeting

http://www.bloomberg.com/news/2012-...euro-rescue-with-berlin-meeting-tomorrow.html

 

[ammo]

dollar

 

[JoshDance]

Quote from fishing:

the matching price is determined by the amount of bids above and amount of offers below the matching price.

the matching price is determined such that whoever bids/offers better than matching price will have their orders filled at the open (plus orders near the front at the matching price)

in your first picture, it was matching at 75 because there were 125 lots on the offer from 75 downwards but there were only total 33 lots on the bid from 75 upwards

so if it stayed that way, 33 lots on the bid would get filled at 75, 33 lots on the offer (best price) would get filled at 75

so if you offered 200 lots at 63, you'd move the matching price down

Thanks fishing, this is more along the lines of what I'm looking for. I found this after reading your post and changing my keywords for search a bit:

http://finance.kampungtalk.net/2008/01/who-decides-opening-price-stock-how-does-pre-opening-work

 

[mastacoli71]

Quote from fishing:

Merkel-Sarkozy meeting

http://www.bloomberg.com/news/2012-...euro-rescue-with-berlin-meeting-tomorrow.html

Here we go again on the Greece haircut. Now it is probably going to be 75%. When are they going to let Greece go. The EurUsd tells the whole story not to mention 10 year yield closed down 1.6% while market closed down only 0.25%. I should have added to my long portfolio hedge before the close on Friday. Who knows where this market will be after the Markozy meeting.