Opening Orders - 2008

Quote from chasedream:

"Starting 28 October 2008, the New York Stock Exchange will make major changes to its market operations.

The NYSE will replace Specialists with Designated Market Makers (DMMs). DMMs will have responsibility to provide liquidity in their stocks, and manage the opening and closing auctions.

Unlike Specialists, DMMs will not have precedence or first priority when orders come to the market. Their orders will have the same priority as every other order. The NYSE will display all DMM orders in the NYB; this should reduce delays in quotes and execution from the NYSE."

Hi, Don. What this change impacts this Opening Order strategy?

As you say, the most important thing for this strategy is to ride with the specialists, but now the speicialists has gone and replace with Designated Market Makers.
More...

does anybody have comments on this one? curious myself.
 
8 Fills 3 Wins 5 Losers -2.6c

November made 2.5c/sh based on small sample. I'd like to double that to get a better net less commission.
 
5 fills all long, 2 scratch, 3 loss. about -0.12 avg
Canceled a bunch, sea of red. Patience was detrimental, unless maybe holding past 10 am. Rough start for the new month
 
Had some computer problems..filled on WYE (small +) and GE (small loss) then I cancelled everything...was getting weird quotes for about 30 seconds....odd. All better now, LOL.


Don
 
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