Opening Orders - 2008

oh yeah, could've been great

 

Something whacky yesterday with 12 fills.

Today 1 Fill +.15/sh...LOL.

 

Yeah, pretty flat today....15 cents for me too (BMY).


Don

 

2 fills short, 2 wins, +0.075 avg
BMY was blocked on upgrade before the bell.

 

13 Fills (had 1% envelope on both L/S)

8 wins, 5 losers

+4.3 cents

 

5 fills, longs, 5 wins, +0.06 avg.

 

Futures 13 points down. E-mini contract changed today to ESH9. Openings: 14 orders, 5 fills – all buy orders, 4 winners (GE, MMM, T, PG), 1 loss (BAC) for a total PL of 25 cents. Lost .25 on BAC, it kept going down but recovered and I got out with .25 loss. I should have waited to sell, because it came back to the opening price at 10:20. I was surprised I got 5 fills even though I used an envelope of .9%. I increased the envelope from .5% after comparing my bids to the pre-market and seeing how close the bids were to the pre-market prices.

 

Question – from what I see, the ‘basic opening strategy’ for a non-newbie seems to average ~.10 - .12 cents daily. Sometimes more, sometimes less. But over several months/quarters, that roughly appears to be the daily average. I also say ‘basic strategy’ since I know several have developed their own person rules and average more. Is that a reasonable approximation?

Thanks-

 

Pulled all shorts.

3 Fills-- 2 wins 1 loss

+5.5c