Corey, I ran into the same problem. I have been trying to think of a way to avoid getting hosed by the specialist like this in the future. One of my ideas was to take the "last," right when the market closes, and use that in my spreadsheet as the "previous day's closing price" for the next day. In reviewing the tape and my charts, I noticed that many of the "skewed" trades didn't print until a few minutes after the market closed, sometimes several minutes. My thinking is that if you take the "last", right when the market closes, and plug it into your spreadsheet for the "previous day's closing price," before it has been updated with the "skewed" trades, you may be able to avoid the problem. This might give you a more accurate closing price than if you load the "previous day's closing price" into your spreadsheet in the morning, which is what I have been doing. I haven't tried this yet, but it might work. It would also eliminate the need to go through charts for all your stocks in the morning, comparing the "previous day's closing price" with the "last" price on the chart when the market closed. What do you think? Scott
That would work, but I automatically pull my closing prices into my spreadsheet from my data feed and don't enter them by hand. I use qlink too and might be able to set up a column that shows the 3:59 or 4:00pm price and compare it to the official closing price. If they are out by more than say 15 cents, I'd investigate further. Punching up 70 charts one at a time sucks.
I added a column that shows the price at 3:59 est. If it's more than .4% different than the official closing price, I check out the chart. It flagged 4 stocks from Friday's close and caught the 20 cent gap on HON. This should work pretty well and save a lot of time.
I tried premarket OPG on Citibank Buy 300 C 37.50 OPG SS 300 C 39.00 OPG cancelled on both, anyone know why? I think I should have entered the SS order as Sell
First Citigroup was fantastic $800! Buy at 39.00 on a 39.07 bid sold at 39.40 Total of 5 fills, and 5 winners... $1820... Even made money on FNM!! Medium envelope: .80 Back to it tomorrow.... Don
You had this way off, my friend...my bid was 39.07 (higher than your sell order), and my offer was 39.73. This was a .80 envelope around Fair value based on the pre opening. As you see above, Citi was my best opening this morning. If you need help with the calculations, let me know. Don
I've put these up before, here goes again. Take the closing of SPX, add today's Fair Value, get a number. Take the last trade of the Emini's prior to the opening, subtract the difference...get a number. Multiply that by 8 to convert to Indu number (relationship to Dow Jones). Divide by Dow Jones and use that as the Fair Value for the stock. Adjust for Beta's, sectors (if need be). Envelope that number. Good Luck... Don
I understand the first paragraph, but unclear on the second ? why the relationship with the Dow if its a S&P 500 Stock ? could you provide a worked example with regards to "C"
Just an (un-necessary) extra step that use for newer traders to relate to the DJIA at (about) 10,000...makes for easy division in your head. Of course, simply divide by the SPX number and use the percentage over/under FV. Don