I think it it will suck.Period. more time for big algorthimic type ordres to get spread out across a larger time frame and sap volatility even more. Not to mention many institutional tradres on wall street put in 10-12 hour days as it is. Now 12-14 hours per day F--- that. How about the market opens 2 hours less each day . More volatility, no mid day dulldroms and everbod goes home earlier. Works for me. sounds like the NYMEX or NYBOT. Crude oil oipen 10:00 -2:30. I like those hours.
What is the earliest possible hour they can go before costs just doesnt justify such an early open. Alot of people trade nasdaq stocks as early as 1am est on the european exchanges. I can see them opening up the most active stocks at that hour. but for the rest as early as 5am.
LOL 12 hour days. Remember back in 98 when everybody was talking about afterhourtrading would never take off. not enought volumne and no interest. Now can you imagine the world without afterhours
I don't think just by extending hours you will attract more overall volume. But I do understand the logic for an earlier open. It's ridiculous that NYSE stocks can be traded in Europe and not the US when early numbers come out. I think it would be better to subtract an extra hour from the afternoon....8:30AM to 3:00PM. I'm in Vegas and I was just getting used to a 6:30 open. Maybe I will just get up at 2:00AM, go to the casino for a few hours and then hit the office
Who knows, for real. MM's and specialists with more time to work a stock might move it farther in the trend.
Funny you say that. I traded afterhours all the time in '98 when it was actually worth it. Stocks gapped 5-10-20 points on news halts all the time...now you are all fighting for 50 cents. BTW count me in for a west coast trader who's for the 2 hour extension. More time to trade = more time to make money.