Opening Orders - 2008

"Goldman Sachs analyst recommends shorting shares of Citigroup because of loan exposure"
Wow, I did not thought this was possible. Analysts knows what short selling is :eek:
 
Correct me if I'm wrong, but isn't this in essence a countertrend strategy for market openings, as buy orders are entered below the estimated Fair Value and sell orders are entered above the Fair Value.

BTW, hopefully your session went well last night, Don.

Walt
 
Quote from jones247:

Correct me if I'm wrong, but isn't this in essence a countertrend strategy for market openings, as buy orders are entered below the estimated Fair Value and sell orders are entered above the Fair Value.

BTW, hopefully your session went well last night, Don.

Walt
More...

Had fun last night, a couple of long time (10 year +) Bright traders joined us.

Yes, we fade the opens, just like the Specialist must do...play the reversal.

6 of 7 winners today +30 cents.

Off to Santa Monica tonight, still have room.

www.stocktrading.com/santamonica2008.html

Don
 
My spreadsheet froze (I once again did some untested modifications, lol) so I did not have the auto take take profit this morning :(
9 fills, 8 longs, 1 short. 3 losers, 6 winners. Flat on average. Could have been worse.
 
Just a comment on auto programs. We have two groups who have done an excellent job with opening programs. Each one DOES require a little bit of basic attention to detail. The more "stuff" you add, the more attention they may need in the beginning...(trailing stops, etc.)..... they will "do" whatever they're told to do, but it generally takes a few days to get things right.....DON'T be afraid to actually read the instructions, LOL.

I'm sure other programs from other places have the same need for attention at the beginning.

All the best,

Don
 
Questions to Don:

There are several gateways which provides the OPG orders like ISI, NYFIX, ARCA and NASDAQ Cross on open. Do they have the same opening price or each of them has its own opening prices?

Thanks in advance.
 
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