OK, remember that the "opening only strategy" is a high probablilty "entry" ...and the exit is the "art"....in the case of multiple fills at the open, I will likely place "stop winners" to capture the "slingshot" effect (quick reversal then back in the opening direction), while watching the tape on other stocks. If things are going well, then I simply remove the bid (offer), and update to a better price. My exit strategies are based on overall market conditions, sector movement, and simply "knowing" how the stock trades (this is the most important aspect of tape reading...knowing your stocks well). The number of cents or "profit" is secondary to good exit points. Don
Only two fills today, both shorts. RTN +.31, APD +.29. Lucky on APD because there was news on him and I forgot to take him off my list, which I normally would have done. With only two fills, I was able to watch them a little more closely and pull more profits than I normally might have. Did lighten up before the consumer confidence # came out at :45. I don't like to have much on when these releases come out because they can move the market quickly and cause some bad slippage. With only one day to go, September's been a good month, with only 4 net losing days for the opens for me. Corey
4 fills, 3 winners, 1 small loser....made $440 (22 cents). Obviously a lot of negative news this morning, and with quarter end "window dressing" I explained to the boot campers what to look for (Fund managers getting out of the "dogs" and adding a few well performing stocks). Tomorrow will be pivotal, new quarter, beginning of October, lot's of concern with the market at lows. Tough to keep an open mind, but you really need to be careful tomorrow morning, be sure to do both sides, and don't get too opinionated. Don
2 Quick longs. Canceled the rest of my longs when the market started off looking bad. HOV -.26 Out fairly quick. Could have gotten back but I didn't like the market. FD -.10 Would not have gotten back, if I had held it much longer I would have really taken a whack. A real blah opening, did get any shorts filled.
Tomorrow will be pivotal, new quarter, beginning of October, lot's of concern with the market at lows. Tough to keep an open mind, but you really need to be careful tomorrow morning, be sure to do both sides, and don't get too opinionated. Don, could you elaborate on this a bit more. Thanks
3 shorts, 5 longs. 4 wins, 2 losses and 2 scratches for +.57 before commissions. Big winner UTX, big loser MCD. September ended up the second best month of the year for openings for me, but it was definitely the most consistent, with only 4 down days. Stats were as follows: Fills 129 win rate 68% Gross cents $6.24 Avg fill rate 10% volume 253,000 Avg shr size 1000 I don't count scratches in my win rate stats, I treat it like a batter who gets walked- it doesn't affect your batting average. A scratch is +- .02 net Good trading to all