Most of the time we're out by then, but it's always a "50/50" shot if you're still in the positions when any market data comes out. Don
That opening print is very often the same side that the specialist has Only about 20% of what I am getting filled overall is going against me (more often than not fills are in my favor and as a trader I play odds). I can easily be in 30-40 stocks on those opening prints. Yes a few went against me. So what the MAJORITY went in my favor. There are very numberous time where the opening print is the BEST print and there is no looking back afterwards. I'm always playing the spread of fair value. Either stocks are too high or too low away from this #. This puts probability on my side. Robert
I hold on when the PREM is out of wack of fair value. I understand how arbitrage will eventually pull things back to fair value. So either my stocks catch up to the futures..... or the futures run to my stocks....... Robert
When we are in the trade, we view the position as any other, looking for proper exit points....Robert is telling you right...he is a "good student." Don
I generally like to be flat by the time a number comes out. Fortunatley, they usually wait until 10:00 and I'm almost always out of everything by then. But for those early ones, if I have some stocks that still look good, I make sure I've already taken some off the table and I'm ready to close out all my longs or shorts with one click based on what the futures do immediatley following the news. The downside to waiting until after the number is that the slippage can be brutal. Today was 3 wins, a loss and two scratches for .49 before commish.
4 for 4 this morning....+$800. Bought HD back too soon, should've known better after the "good news" comes out....oh well...decent morning.. Don
Don, could you explain how you got out too soon with HD. The opening print is 30.40 and maybe a couple of prints below that around 35 so no big profits. After those little prints it screamed to 30.90. Would you have sold the opening print at 30.40, watch it go to 30.90 and still not cover ? Thanks
You're looking at yesterday's HD. However, today I did get too soon, and took a hit on it (paid .80). I ended up making about $700 thanks to BMY and MWD. Don