what happened to NYSE "opening indications" ?

Do you want to see the NYSE "opening indication

  • yes

    Votes: 18 69.2%

  • no / it doesn't matter

    Votes: 8 30.8%
  • Total voters
    26
Quote from mskl:

these are vague indicators and the least reliable - they fall under rule 123D. The ITS rules were very strict - as the NYSE would put out about 1,000 on any giving morning. Rule 123D creates typically only about 10 daily.
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And its barely an indication at that. A yellow light goes on that there is an imbalance, and thats it ! No price indication at all. You can now see stocks opening $5-$8 away from their previous close, and you have NO CLUE that it would open this way until after it happens.

C-R-I-M-I-N-A-L
 
If anyone has recent crazy stock opening stories , please share them here.

And you can call the NYSE to complain:

Karen Lorentz at the NYSE (212) 656-5858
 
Quote from Ivanovich:

I think I'll have steak tonight. I've been trying to cut down on the whole red meat thing, but tonight I'm going to go the high cholesterol route.
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Best post to this thread. :)
 
Quote from mskl:

BTW - the Nasdaq has all sorts of transparency prior to their opening - imbalance info and price indicators.

So - I'm not sure what some of you are talking about....
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I trade GOOG a stock with the NASDAQ as its primary exchange. I do not trade the opening price in the same way many of the people who are posting here do. I wait until I know what it is and then do my thing. But what I have noticed frequently and unpredictably is that the NOOP which should logically be the OP for GOOG is overridden by an NYSE-generated OP, by an OP from the CSE and rarely by an OP from God know's where exchange. These latter three OP's will invariably be given as the OP for GOOG at the NYSE quote site and the Bloomberg.com quote site (which gets its data from Bloomberg Professional).

I have spoken with the people at NASDAQ and they say that in spite of Reg NMS there is no agreement between exchanges with respect to which one gets to set the OP for an equity. So even if the NASDAQ is an equity's primary exchange, the NASDAQ does not set the OP for GOOG.

So what happens? Many mornings the NASDAQ has one OP and the NYSE a different one. On mornings like that I go with the NYSE even though it may have set the OP with a 100s lot instead of the 1000's of shares which go in to generating the AM X and OP from the NASDAQ.

This has been going on for years. I know, I've been monitoring it. So what's going to be done? IMO, SFA. What else is new.

lj
 
Quote from ghostzapper:

And its barely an indication at that. A yellow light goes on that there is an imbalance, and thats it ! No price indication at all. You can now see stocks opening $5-$8 away from their previous close, and you have NO CLUE that it would open this way until after it happens.

C-R-I-M-I-N-A-L
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Why not take advantage of these crazy opening prices if they are so criminal? Send in multiple opening orders at different prices levels on both the buy and sell side depending on where you think "crazy" is. Then wait for the price to normalize.
 
Quote from ljyoung:

GS in the preM. Useful?

lj
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Evidently not. Otay. One last try. Surely you boyz knew about the fuzzy-wuzzy OP. So bend over and retroflex your cervical spine where it articulates with your thoracic spine.

lj
 

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Quote from sprstpd:

Why not take advantage of these crazy opening prices if they are so criminal? Send in multiple opening orders at different prices levels on both the buy and sell side depending on where you think "crazy" is. Then wait for the price to normalize.
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I'm going to do what many other outraged traders are doing:
boycott openings and NYSE trading in general.
 
Quote from ghostzapper:

The vital statistic that everyone needed and needs to make rationale decisions on the opening is gone.
The "opening indication" is no longer showing on the NYSE pre 9:30 et.

Can you believe that the NYSE would deprive the public of the most basic, helpful info it has already
been disseminating for decades ?
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Well the NYSE paid the penalty for depriving the public of vital info. As a result of their new lack of transparency, the NYSE has taken a beating recently, and well deserved.
 
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