The Opening Orders Thread

Have you guys been getting specialist indications the last two days? My firm told me that as of June 30th the specialists were no longer obligated to disseminate indications. If thats true it really blows....FWIW no indications for me the last 2 trading days:(

Any one with info?

-Guru
 
Quote from listedguru:

Have you guys been getting specialist indications the last two days? My firm told me that as of June 30th the specialists were no longer obligated to disseminate indications. If thats true it really blows....FWIW no indications for me the last 2 trading days:(

Any one with info?

-Guru
More...

Damn...another edge bites the dust.

I did notice lack of indications & first thought my connection was down, but it was not. Then I noticed gaps larger than what they would have been required to pubish, with no indications.
Today I only saw an indication for CME & yesterday only for BAC, so I thought it was just a flat open...WRONG
Guess we will be doing the OPGs blind.
Thanks for the link.
 
OK guys, think about this: the opening indications have been relatively useless since the advent of ECN trading which we can see pre-open anyway (real numbers, not estimates)....so no "edge biting dust."

Today: 4 fills for $444 (must be a Fourth of July thing, LOL).

Have a great holiday,

Don
 
Is anything changing regarding the process the specialist uses to open a stock? Or is going to stay the same?

I wonder if this will change the way some stocks move around the open? Maybe there will be less participation from traders if they don't know where a stock is going to open?

-Guru
 
Quote from listedguru:

Is anything changing regarding the process the specialist uses to open a stock? Or is going to stay the same?

I wonder if this will change the way some stocks move around the open? Maybe there will be less participation from traders if they don't know where a stock is going to open?

-Guru
More...

The lack of ITS indications shouldn't affect anything. We look at Level2 pricing for our list of stocks anyway. Again, if we see a "bad trend" coming from a stock.

The imporant thing is still that there are outside brokers placing these opening only orders. We can continue this until it stops working, which I hope is a long time away.

Don
 
So nothing is going to change as far as the specialist grouping the orders together and opening the stock right? Just business as usual just no indication?

-Guru
 
Anyone who thinks this isn't a big deal is dead wrong. Stocks often open well away from their ARCA or ISLD trading. So, anyone who responds by saying that we already have indications based on ECN's hasn't been making money from the indications.

This is one more thing to "...F**k the DOT's !" as a specialist is quoted as saying in a recorded conversation.

I guess some people have a business interest to perpetuate and will always spin bad as good.
 
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