happened to me 3 times last 2 months ss order on the open, stock opens on an uptick above my limit, 2 times i get nothing, 1 time i get a 100 shares, specialists way of say f.. u. all 3 drop like a rock....
The specialist is not trying to screw you. All he is doing on the opening is matching orders. He has no vested interest in not filling your order. The reason your order did not get filled is because you entered it after 9:25 est time and it did not get placed on the book. Trust me, the specialist has bigger fish to fry then to go out of his way to screw you out of 500 shares or whatever size your order was.
all orders were placed way before 9:25 and were for 2,000 got a standard reply, stock ahead, when me help desk called it in, of course it helps if you have people fighting for ya which isnt the case here :-(
I don't know, makes no sense to me. I always use to get price improvement on the open. Hell that is where I made 80% of my money. He has no reason not to fill you. He is not taking the other side of your trade most of the time. He opens the stock at a price to clean out as much of the book as he can on the first print. If its the same specialist doing that to you, take that guy off your list.
i agree that i shold have gotten it. thats how i make most of my money too, and in 99% i get filled, but on these 3 occassions i didn't, and my help desk didn't have the balls to fight for it..
Happens all the time, i get this about 6-8 times every morning at the open....different specs. Nothing to fight for the spec is simply filling all the limits and market orders that match up.....and just in case you would be able to get that short off.....he throws his own sales in -to "balance the book" ie: screws ya. Welcome to NYSE.
Trust me, it is. And by the way, forget the 9:25am cut off you mentioned. I see lots of orders that get sent several minutes after 9:30 and ARE part of the opening print (and are flagged as such.) I'm not making this up.