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The Opening Orders Thread
- Thread starter Don Bright
- Start date
Quote from Carlos11:
With the NYSE mostly electronic now, does tape reading really matter with this strategy anymore?
There are so many "exceptions and exemptions" from the hybrid rules, that I think the Specialists are right back where they were before the hybrid. And, yes, "all encompassing" tape reading that includes, Prem/Disc to FV, pivots, depth of NYOB, peers and pairs (for relative strength) still means a lot in your day of trading.
Regardless of how you get into the trade, opening only or not, you have to continue to watch all this for good exits, IMO.
Don
Quote from Daal:
what about some examples
http://tradersmagazine.com/magazine.cfm?id=2871
Here's a good list.
Don
I dont think this article address the problems with the specialists themselves. they lost information with the brokers using e-quotes and d-quotes(advanced orders that are completly hidden), plus now they can only see only one incoming order at a time and he gets no info from those orders
https://solutions.webex.com/solutions/k2/tool/record/recordinginfo.php?RecordID=8191037
it seems like they are now squeezed on being poker players and reading the floor brokers that are at their posts
Quote from Daal:
I dont think this article address the problems with the specialists themselves. they lost information with the brokers using e-quotes and d-quotes(advanced orders that are completly hidden), plus now they can only see only one incoming order at a time and he gets no info from those orders
https://solutions.webex.com/solutions/k2/tool/record/recordinginfo.php?RecordID=8191037
it seems like they are now squeezed on being poker players and reading the floor brokers that are at their posts
You can pretty much tell by the size of the opening print if they are getting enough size from opg orders to determine good opening pricing. My stocks seem to have pleny of size on the opening.
The article I posted just shows the many ways that, right after the opening, the Specialist can shut out the other market centers. I see this quite often.
Don
Today's results, in the words of Yukon Cornelius on sampling his pickaxe: "Nuthin'"
Me too, nada today.
Don
Don