NYSE open limit orders

[jj_jere@hotmail]

I've read some of the past threads and would like to know if I have open limit orders on NYSE correct.
If I want to buy IBM on the open at 110 or better and IBM opens at 108, my purchase price would have been 108. If it opens at 111 and then falls to 108, I would not have purchased IBM.
If anybody can tell me if I'm correct I'd appreciate it. Thank you
JJ

 

[rtharp]

That is correct
Robert Tharp

 

[jj_jere@hotmail]

Thank you Robert.
To do a short sale on the open, I assume the opening price must be above the previous close.
jj

 

[rtharp]

well actually it is possible without that. Run searches on this message board for bullets/conversions to learn how.

Robert

 

[Don Bright]

You get your price or better on the "opening only" order, or else your order is cancelled.

Regarding the short sale. If the previous day's close was an uptick, then you can short on an even opening price.