I've seen several references to MOC orders recently. Could someone let me know what MOC stands for and a basic explaination of why it is useful (I saw S&P adjustments already). I use TS6 but haven't seen any reference to MOC orders. The term is listed as a reserved word in the index. Is there any way to mimic MOC orders without having this specific capability? Thanks for any (helpful) replies.
MOC = "Market (order) - on - Close" which simply gives the final price for the day to the order, buy or sell. These orders are used a lot by institutions, mutual funds, and the like....and by traders who know how to benefit from them. You can check the thread about S&P adds for a little more insight into how to use them. Don
1] would a MOO be the opposite? That is the first print from the specialist? Thanks. 2] 3000 shares min?! where did you get this?
No minimums....and MOO ("market on open" is not what we do on the opening, we always use limit orders on the opening strategy... Don
Don, yes I know (I lurk in you OO thread ) What I mean to say was, if you want the opening print (like when you want to close a MOC from friday) you can do so by entering a MOO, right? Thanks.
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? Friday was a special circumstance with the index additions.