"Well, at least I (me, myself) made money on MRK (pretty lucky, small "slingshot" at the open....then it turned into either a "great" or "horrible" stock for the next hour....I got lucky, enveloped some sell orders, got big price improvement (sold at .70 on a .59 limit), bought back all the way down to .16 .... When stocks are delayed on the open, you just want to see where the indication is, and where the other stocks in their sector are trading (and, of course, watch for SPOO reversals, etc.)....If they open quite far away, then you have a better chance for the initial reversal (IMO). Don
I only entered two open orders so, I used a tighter envelope yesterday. Got in late today, had to go to traffic court. But, would have been filled on 3 of 13, probably would have made small money on 1 lost on 2. So, glad I chose today to pay my fine. Seatbelts everybody.
Just curious as to why you would even attempt to fade good EPS news in this environment? The better trade is to wait for the price to reverse over the open print and be long. That is the money trade, fading good/weak EPS numbers is fruitless in this tape. EK, ABC, and UNH some good recent examples. Just wondering?
Since you said ".....is to wait for the price to reverse over the open print"....you imply that we just made money. This is just the first trade of the day....sell it, cover it, go long at that point....combine all this into trading on the EPS news. don
I know that! (I work at Bright!), was just busting on you..it's just that good news these days is rare..and fading it as Cash said in his post is a bit dangerous. Especially when the stock is oversold. Check out ABC from Friday..Open 55.10 was 56.25 in 5minutes, despite a 13 point decline in the futures. I just feel that fading good news in this env. is low odds.
Ok Don, Keep me informed though, you could go around to different firms and talk to traders. I think CNBC should do a peice on day trading firms that survived the fallout. That would be interesting. - BMW
This morning: 7 fills: 5 winners 1 loser 1 scratch 4 cents/share gross profit today Ripoff specialist of the day... Agilent Best stock of the day had 55 cent profit at max, I let slip to 35 cents... shoulda got out with 41 cents... live and learn Cash
What do you do with such a big discrepancy in number. http://www.allstocks.com/html/fair_value.html Do you account for that in any form?