NMX : Is it worth putting in a market buy order?

Quote from Comptalk:

Buying on market is nuts...
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Actually, the guys that made over 50K in my office chased it all the way to 130 with some size. I was only in 1000 at 122 and got out right away on ARCA. Thats why it was a layup. Even with the jump, ECNs were crossing a couple points from the prints.

The more I think about friday morning the more pissed I am getting. Should be happy with a decent day, but if I had sacked up in the very least, would have made some very good coin. We had three guys over 50K for the day. Just extremely quick scalps. And I know there were tons of BIGGER days for NYSE scalpers out there. When it got choppy after the 150s back down to the 130s. Stop trading the damn thing. Unless you were getting the quick ECNs crosses to buy and cover the NYSE gap when the big bids were coming in a couple points above the print.

Freakn lay up. Wish I turned of my notification b/c I had almost let this go. Now going to think about it all day. :(
 
I was going to buy 1000 shares market on open as well. It just seemed like this stock was not going to go low off the open. Again, I hesitated, just could not pull the trigger as this thing was volitile as all hell, the risk/reward to me was basically risking my whole account/trading career to make a home run.....at the end, I just didn't pull the trigger. Sure, I have some remorse as I could have made some very decent money, but looking back at the risk/reward, I am not holding a grudge to myself that I didn't do it as the risk/reward was irrational for one trade.
 
Can't cry over spilled milk.

Learn and move on.

And there may be a nice 2nd ringer on this one soon, anyways.

I've been trying to decipher the lessons to be culled from this trade since Friday at market close.

But yes, we know who made the real money with no risk.

Unless you had $59 shares, you had to actually work for lesser crumbs.


Investment banking = license to print money.
 
Yeah you really can't cry about missing out on this. You have to put it into perspective. More often than not, IPOs open really high, and dive. The thing could have just as easily dived to 100 in the first 5 minutes. Buying a stock up 100% is a big risk, you really have to be prepared for a big loss if you trade stuff like that.
 
Quote from Triple X:

Yeah you really can't cry about missing out on this. You have to put it into perspective. More often than not, IPOs open really high, and dive. The thing could have just as easily dived to 100 in the first 5 minutes. Buying a stock up 100% is a big risk, you really have to be prepared for a big loss if you trade stuff like that.
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exactly, that's why i was thining about what happened on the train home, and right now, in a rational sense of perspective, if I did pull the trigger with the circumstances I was in, I would have been irrational.
 
just curious what the spread was and slippage friday

$50 cents - $1.00 wide spread ?

did the specialist in NMX keep an orderly market

in the first hour , or later on in the day ?

( i.e. could someone have routed to NYSE instead of ECN's

and not have paid up to get in or out of a daytrade or scalp) ?
 
Two questions:

How did investment banks "make out like bandits"? Their clients got the stock at $59...they may have kept some but not much as the demand was so strong


Most NYSE IPO's with that much demand NEVER come back off of the open price.....Did you see the crowd around the post trying to buy this stock??? That is pure institutional buying...big players....not daytraders for 100 shares....


SteveD
 
I have no sour grapes ... but this IPO will fall back to earth

at some point in time

the question is how low can it go and from what high point ?

$150 * fridays high * , $200 , $250 ?

( in the early 1980's more than one person told me that NYMEX
membership was cheap - heck who had money to buy a seat
and know how to trade from the seat of his pants then )
 
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