NYSE Openbook Question

T

tito

Is there any info during pre-market in the NYSE Openbook that will give a hint as to whether a stock is going to open up or down from the previous day's close?
Thanks in advance.
 
Nothing is 100%, 1 thing you can look for are market shorts building up in the open book. But to take advantage of this you will need to have a conversion or another product that will allow you to get short on the opening print.
 
Quote from tito:

Is there any info during pre-market in the NYSE Openbook that will give a hint as to whether a stock is going to open up or down from the previous day's close?
Thanks in advance.
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Don't use the NYOB pre-market, you'll likely be looking at stale quotes. The L2/ECN markets are actually trading.

Don
 
Thanks for your replies, rjv & Don.

Don - With regards to pre-market ECN and Level II action, what "hints" do you look for in connection to a stock's opening?
 
Quote from tito:

Thanks for your replies, rjv & Don.

Don - With regards to pre-market ECN and Level II action, what "hints" do you look for in connection to a stock's opening?
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Normally just price and volume action, large bids or offers at prices away from the previous day's closing price.

I generally follow up any disparities with a check for news / upgrades/downgrades / dividends, etc. This helps with opening pricing on my part.

Don
 
Yea - don't even bother with the NYOB pre-market.

The best way to get a feel is to bid or offer 100-200 shares on arca/island and see how quickly you hit/paid.

If you're wrong, you can get out easily at the open and, if right, you're in good stead to build a position at a good price (since the high or low of the day is contained within the opening range 18-21% of the time).
 
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