How is this possible, and what does it mean? (WMT)

M

Math_Wiz

At 8:00 am, I place an order to buy 220 shares of WMT at $127.95. It was trading above $129 all morning. At 9:25 am, in about 3 or 4 ticks/trades, it goes down and picks me off, and then goes right back up to the $129's for the opening bell. What the hell? What does this mean?

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Math_Wiz said:
At 8:00 am, I place an order to buy 220 shares of WMT at $127.95. It was trading above $129 all morning. At 9:25 am, in about 3 or 4 ticks/trades, it goes down and picks me off, and then goes right back up to the $129's for the opening bell. What the hell? What does this mean?

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Wow. Prices go up and down. What a discovery.
 
You must be referencing guru's post, "It means I've got a deal". Haha yes, that's certainly true. But does it mean the stock will be going down soon? I guess time will tell. Seems like the specialist (or a big trader?) really wanted my shares.
 
OP, do you expect to day trade this, or did you already exit the position at 10am with a $1 profit?

Do you have a 'sell to close' price that you likely already placed at the open with a GTC?
 
So if the stock will go down soon then you’ll assume it’s because of what happened earlier during 4 ticks?

As for what happened, could be some news reading algo reacting to bad newa, while no one else cared. Could be a mini flash-crash for whatever reason those happen, or lots of other possibilities. So even if someone told you exactly what happened, what would it mean?
 
I shorted yesterday at $128.70 while it was chopping around. So I was covering my short. I haven't reentered. I'm wondering if this particular movement to pick me off means a big seller is there, and perhaps I should reenter my short for a longer swing trade. The stock is hitting all time highs though, and I generally don't like to short stocks hitting all time highs. But the way that big trader came down and picked me off makes me wonder.
 
It means, someone sold to you at the BID Price, which was likely your order at the time, standard pre market no volume.

Could of been an error, could of really wanted out, no way to tell, it's a nothing.
 
Math_Wiz said:
At 8:00 am, I place an order to buy 220 shares of WMT at $127.95. It was trading above $129 all morning. At 9:25 am, in about 3 or 4 ticks/trades, it goes down and picks me off, and then goes right back up to the $129's for the opening bell. What the hell? What does this mean?

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More...

Prices and spreads are expected to be volatile on a Thursday pre-market during a pandemic with the VIX over 40.

Where's the mystery?
 
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