so, is this opg only strategy working for everyone? i'm starting with Bright next week and wondering if i should use th opg only strategy.
Follow the basics from class (especially the exits), and you should do well!! Be sure to call me if you have questions!! Good Luck!!
Only one opening today where I broke one of my "cardinal" rules: never put in a market order in JNJ! Had a pretty safe 20 cents, but once again he held me for a LONG time, and let me out at +3 cents. My own fault of course. Well, back at it tomorrow
got 6 fills on 11 stocks, good mix of short and long 5 wins 1 loss (+32 +32 +8 +13 +13 -6 net) net + 92 cents out by 9:53, time to walk the dog.
I missed the fact that my Redi had a "zero" closing price for AOL this morning, and therefore my Buy was at market (00) and I got stuck for 20 cents....oh well, that's what I get for relying too much on the technology. Made a little on PFE to net about a $400 loss.
Don't be surprised if mgkrebs tells you tomorrow he had 10 orders and got 13 fills.... Just kidding, good to now that somebody is consistent and winningnover time. Myself? Like Hitman not much today, only OMC was filled on 26 orders which I scratched when spoos started to slide.
1% envelope (half a percent on either side) fair value adjusted for beta example: spm down .47% gm close 61.00 fairvalue = (-.0047 * 1.13(beta) +1) * 61 = 60.68 buy at 60.37 sell at 60.98 (so if it opens up, or unch on uptick, you're short) stock opened and was filled long at 60.05, sold at 60.15 Are you using a larger envelope? I'm getting typically 3 fills a day on just 10 or 11 stocks. Actually had only 10 today, cause I had IP but cancelled it on news of major downgrade. It would have been a loser.