Isn't that part of the Oz Scanner, gap plays?
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How do I find stocks gapping premarket?
- Thread starter dumtom
- Start date
Originally posted by TraderBob
See http://dynamic.nasdaq.com/asp/PMI.asp?col=3&dir=U
for pre-market NASDAQ gappers.
That's a pretty cool link, I haven't seen that before. That's very similar to what I set-up on excel, only I concentrate on NYSE stocks only.
that nasdaq dynamic pre market thing does look like a cool site.
I haven't seen it in the morning, so I am not sure how much value there really is to it though.
Last sale can be misleading.
The only way I have ever really been able to anticipate gap opens on nyse stocks is on my instinet terminal. And even then, you need to know where to look. Which usually means looking for symbols with news, or watching scrolling headlines.
As for indications, well, sometimes using the prices that stocks are actually trading at on instinet and comparing them to opening indications on nyse can be interesting.
For example, if a stock closed at 50, and is trading on instinet at 52, and you see an indication of 53-54, you know you want to either buy it on instinet and sell at the market on nyse, or just short it on the open on nyse. Problem is, the prices will virtually always adjust before the real open. The specialists aren't stupid.
The one play that does seem to work very consistently on gap openings on nyse stocks (i have talked about this before), is this:
Stock closes at 50. Before the opening, you see it indicated at 51-51.5 (for example). Then the indication gets raised. And raised again. Last indication is (say) 53-54. I would put out a limit order to short the stock somewhere above 53. The thinking is that generally, the specialist has a pretty good handle on where the stock should open. So I go by his FIRST indication. That was more than a point and a half LOWER than my order to short. Same play works on the long side. And it doesn't matter if the issue opens up or down. It is just playing the stock to go to the ORIGINAL indication on an issue where the indication changes several times. It takes a lot of watching, and the opportunities are not that frequent. But it has proven to be a pretty consistent strategy.
The one crucial thing is if you are WRONG, you must get out quickly. Nothing worse than a runaway gap that goes against you. Can't give these plays a lot of room. ALSO, I would not recommend a HUGE gap play (like THC or CI last week). When a stock gaps with a 25 point change in price, it is just a guessing game. And a dangerous one.
Good luck to all,
Rs7
I haven't seen it in the morning, so I am not sure how much value there really is to it though.
Last sale can be misleading.
The only way I have ever really been able to anticipate gap opens on nyse stocks is on my instinet terminal. And even then, you need to know where to look. Which usually means looking for symbols with news, or watching scrolling headlines.
As for indications, well, sometimes using the prices that stocks are actually trading at on instinet and comparing them to opening indications on nyse can be interesting.
For example, if a stock closed at 50, and is trading on instinet at 52, and you see an indication of 53-54, you know you want to either buy it on instinet and sell at the market on nyse, or just short it on the open on nyse. Problem is, the prices will virtually always adjust before the real open. The specialists aren't stupid.
The one play that does seem to work very consistently on gap openings on nyse stocks (i have talked about this before), is this:
Stock closes at 50. Before the opening, you see it indicated at 51-51.5 (for example). Then the indication gets raised. And raised again. Last indication is (say) 53-54. I would put out a limit order to short the stock somewhere above 53. The thinking is that generally, the specialist has a pretty good handle on where the stock should open. So I go by his FIRST indication. That was more than a point and a half LOWER than my order to short. Same play works on the long side. And it doesn't matter if the issue opens up or down. It is just playing the stock to go to the ORIGINAL indication on an issue where the indication changes several times. It takes a lot of watching, and the opportunities are not that frequent. But it has proven to be a pretty consistent strategy.
The one crucial thing is if you are WRONG, you must get out quickly. Nothing worse than a runaway gap that goes against you. Can't give these plays a lot of room. ALSO, I would not recommend a HUGE gap play (like THC or CI last week). When a stock gaps with a 25 point change in price, it is just a guessing game. And a dangerous one.
Good luck to all,
Rs7
Originally posted by goldenarm
RealTick or First Alert
does firstalert give premarket indications? speaking listed, i see a bid/offer occassionally premarket, which after inspection turns out to be the indication, but the overwhelming majority of the time they are not there.
redi+ gives indications, so if you set up a quote montage for 250 stocks (which is the maximum, i tried) you would get indications on those, but i just want a list of all indications period. does bloomberg have a list like this? dow jones mentions a few flying by on its newswire, but no composite list is there. i imagine bloomberg is the same.
Originally posted by dafugginman
does firstalert give premarket indications? speaking listed, i see a bid/offer occassionally premarket, which after inspection turns out to be the indication, but the overwhelming majority of the time they are not there.
redi+ gives indications, so if you set up a quote montage for 250 stocks (which is the maximum, i tried) you would get indications on those, but i just want a list of all indications period. does bloomberg have a list like this? dow jones mentions a few flying by on its newswire, but no composite list is there. i imagine bloomberg is the same.
First Alert does not give premarket indications, but has a good gap filter for trading during the day to see gap moves right after they occur.
The composite list you mention is what I use on Echo's software, Sterling has a window called MDX you can pull up that gives you a composite list of only the stocks which have pre-open indications. You can also do like Redi and set up a big montage, but that is a pain. Looking at a list is much easier. Look at the MDX window, I think you will find what you want.
You can do a filter with FirstAlert for Premarket you have to use the bid or ask in the filter becuase they don't print the last price until the market opens on NYSE or NASDAQ. Or if you use their FirstAlert 5.0 (thin) they have a remote filter in the thin product called "G- PreMarketGapDown" or "G - PreMarketGapUp." It works OK.
Is there any software that gives indicated opening prices for non pro traders? Thanks JJ