Is the premarket NYB prices a good indication of where the price may open? I'm short a stock (not on purpose, unfortunately) that had better than expected earnings last night and the NYB prices aren't really different from yesterday. I'm wondering if I should get out of my position now on the ECNs (even though its 2 points above the best offer in the NYB). Or should I just wait for the open? I'm worried it'll gap up higher.
depending on the stock you might wait until after the open. A lot of time these stocks gap up big on the open, but fade back, at least some and offer you a better exit point than just selling on the open or pre-market. Just make sure the stock your trading isn't like a BIDU or GOOG or a biotech....once those start running they don't necessarily have a pullback, they just keep going......all this is just my .02 cents....best of luck!
thats weird, i just posted but it came under my brothers account. The stock is DRS. If I take the offer now, it'll make all time highs. lol. But that price is only 1.5% above yesterdays close. So... do I hit the ECNs or wait.... Earnings were 1.36 and 1.20 was expected. The offer sitting there on the ECNs is the same one that was sitting there last night.