Great S&P Adds/Take outs...

Discussion in 'Trading' started by Don Bright, Jul 19, 2002.

  1. far this has been better than expected...RD out (+2.00), GS in +1.50 or more.....just textbook!!!

    Back to you with the rest...

  2. Make that 6.50 profit on GS....great!!1 The rest are super as well....

    Don :) :) :)
  3. Ok, "whew".....great close....our office made a couple hundred thousand on the close....I can tell you what I did...quite simply.

    Placed an MOC on GS at 22 minutes until the close. Bought the stock at 71.51 and 72.00 right at the close....then they filled me on the MOC sell at 77.00 Plus 5.00 + just on this one....

    The guys who did RD on the short side did the same thing...

    Makes for a good weekend!!

  4. mrktwiz


    give us an explanation of how exactly you place (and how the trade unfolds) of MOC orders?

    If this is something you'd rather just share with current BT traders I totally understand, but I heard you talk about MOC orders during the week training I took in LV but we never had enough time to look atit more closely.

    Thank you and congratulations on what sounds like an excellant day for yourself and Bright overall.

    good trading all......

  5. We actually did cover the basic concept in school.....but as a refresher. Whenever you have a good reason for institutions to be buying or selling a stock (as in S&P500 adds and take outs), then you place MOC orders (more than 20 minutes before the close)...then "cover" the position right before the close, and get the MOC price.

    GS example:....placed MOC order to sell GS, 3:59 bought stock at 71.51 and 4:16 sold on MOC at 77.00 quick $5+ profit.

    I love this !!

  6. nylord1


    why put them in before the indication> u are allowed to put off setting moc right>? also why not wait until 3 50........the indication (although not likely today) could flip
  7. m22au


    Congrats on the trade Don.

    I am hoping you can answer some questions about this trade.

    How easy is it to get a (guaranteed) fill at 3:59? When you bought did you use a market or limit order? Did you route the buy order to the NYSE or just based on the best available price? How many seconds after 3:59:00 did you place the buy order?
  8. Do you need respect?.................admiration?

    Why would you possibly advertise your genius and invite competition unles you were really after something else?
  9. m22au



    are these S&P trades based on the fact that the stocks are being added / deleted or do you also require a buy/sell imbalance in the direction that you expect the stock to go?

    Eg. If GS had a sell on close imbalance today, would you have (1) continued with the buy (2) done nothing (3) shorted GS and covered on close

    When are the buy/sell imbalances posted, and apart from the NYSE floor, where is this information found?
  10. I have one other question while you are answering the above questions. At what other times do these MOC orders really work well? You said earlier that you do these when institutions have good reasons to be buying and selling. What are a couple of other predictable circumstance that this would occur? Today was a special circumstance with the index additions.

    I have mostly been trading Nasdaq stocks but I am in an office where there are some NYSE traders. When you see a few guys put up 50-100K in a day, it is good to start listening. I don't trade at a Bright office but some of these guys learned at Bright so obviously you are doing something right over there.
    #10     Jul 20, 2002