Don's Openings, Part 6 2003

Can you get a market or limit on open fill if the share size is less than 100? I know you can get fractional fills of 123, 728, or whatever but what about an odd lot under 100?

I have never been able to do it? Anyone know for sure?

 

I've never known an odd lot to come off of the NYSE, just ECN's. Actually, the other day, I did close a position on an ECN and got a fractional fill. And on another day, I closed on an ECN when the stock wasn't "acting right" and got the high print of the morning (and on the GOOD side!).

 

I've had BLS in my stable for a while now. It has generally worked OK in the past.

 

From what I heard, any odd lots get an auto-execution from the specialist on the inside b/o...

You can only do one trade at a time (to avoid sending a bunch of 99 share orders at once getting forcing the spec. to give prints..)or it is illegal and if you persist, they will probably bust the trade or threaten you.....

 

This is true

If you are a licensed, professional trader, it is illegal, unless you are closing out an odd lot position, like from a partial fill on an ecn. The order has to be sent as a market order, and you will be executed at the inside market immediately.

As to whether a retail trader can enter odd lot limit orders on the nyse, I don't know. I do know that some brokers don't allow odd lot orders for listed stocks (IB is one of them).

 

Decent morning, but I do get the dips**t award for not tagging 2 of my fills for news.

LUV .00 I exited as soon as I got it because I remembered it had news. Why I hadn't taken it off I don't know.

NCC -.10 Same brain fart as LUV. I clearly remembered it as soon as I got filled. Exited immediately, but not fast enough.

CFC +.20
CLS +.05

And, for the rest of the story.....

as I write this, the market takes off with great alacrity. Oops.. coming down just as fast. Don't you just love these days.

So far.. WM -.05
BLS +.05
WM +.03
FDC +.08

Break out the champaign... whoo... whoo....




Now, off to my day job. I don't get paid much, but I do get paid.

 

ouch nly got filled at 17 and tanked. hung on and finally got out at 17.14. hate those.

 

What's the theory behind not playing news stocks? I know they can go bad quick, but I close 'em quick if they do. I still play them though, a good example today was ROK:

 

"Don's Openings" . . . what a most obscene thread title for a ho-hum trading strategy.

 

Ho Hum....oh well, got IBM this morning (a "news stock"), made a quick $480...Hope everyone is doing ok.....Let's trade well, and remember the moments of silence.

And, get your mind out of the gutter, at least we didn't use "orifices".....which is only appropriate on certain bad days.

Don