On Open Nasdaq market

T

TradeNYSE

If I place a market order to get filled on the open of a nasdaq stock, what price will I be filled on...whatever the inside offer is as soon as 9:30 rings?

I know the opening price for a Nasd stock is essentially the first print after 9:30...but I was wondering if I was trading a thin stock and there was not a lot of liquidity, if I would be filled on the inside offer (even if it was a point or two (or more) out of the money.
 
It is my understanding that if you dump your stock at market with enough size, you can theoretically drive the price to zero. In reality, bargain hunters will usually step in and prevent that from happening. Sometimes it doesn't take much size to move the price a dollar or two.
 
Anything thin, unless you are selling into a size bid that is showing, will get your silly butt kicked trying to sell 2-3000 at the open
 
Personally I am afraid to trade NASDAQ w/o a limit... or any ECN for that matter. This area NYSE still has the edge.
 
Quote from rayl:
Personally I am afraid to trade NASDAQ w/o a limit... or any ECN for that matter. This area NYSE still has the edge.
More...
I agree completely. I trade both Nasdaq and NYSE, and MOO and LOO orders are o.k. on NYSE but lethal on Nasdaq. You have to bid or offer a little bit at a time looking for liquidity on Nasdaq. There are about 2 or 3 dozen stocks that have very good liquidity on Nasdaq.

[rwk]
 
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