anybody else notice some strange moves in the morning in stocks like NEM? It had a big spike at the opening then flat lined for next first 10 or 15 minutes. I saw other stocks do this as well today.
The NYSE opening was flawed in a range of issues. Made good money going contra. Check top gainers and losers since open to see which tickers were involved.
Openings are often sloppy and whippy. Players who played for long/short need to cover/reverse. Others chase opening action. Usually not significant beyond the noise.
https://www.cnbc.com/2023/01/24/man...sted-stocks-halted-for-a-technical-issue.html MARKETS NYSE says trading issue that led to dozens of stocks being halted has been resolved PUBLISHED TUE, JAN 24 20239:40 AM ESTUPDATED 19 MIN AGO Jesse Pound@JESSERPOUND SHARE KEY POINTS The major stocks impacted included Morgan Stanley, Verizon, AT&T, Nike and McDonald’s, according to the NYSE’s website. Many stocks were shown to have abnormally large moves when the market opened, which may have triggered volatility halts. The NYSE said at roughly 9:50 a.m. that all of its systems were operational. WATCH NOW VIDEO01:08 Several stocks halted due to ‘exchange-related issue’ Trading in dozens of stocks on the New York Stock Exchange was briefly halted shortly after the market opened Tuesday due to an apparent technical issue. The major stocks impacted included Morgan Stanley, Verizon, AT&T, Nike and McDonald’s, according to the NYSE’s website. Many stocks were shown to have abnormally large moves when the market opened, which may have triggered volatility halts. CNBC’s Bob Pisani said on “Squawk on the Street” that the issue appears to be a technical one and not something that happened on the trading floor. Many of the companies impacted resumed trading before 9:45 a.m. ET. The NYSE said at roughly 9:50 a.m. that all of its systems were operational. In a statement, the exchange said that it is still investigating the issue with the opening auction. “In a subset of symbols, opening auctions did not occur. The exchange is working to clarify the list of symbols,” the statement said. The NYSE, like some other exchanges, has automatic halts in place for stocks that move dramatically in one direction or another. On a normal trading day, few if any stocks are halted for volatility on the NYSE. The other major U.S. stock exchange, the Nasdaq, did not appear to be impacted by the technical issue.
I wonder how this affected market-on-open orders and auction pricing? Did anyone have opening orders on any of these stocks?
I got a bulletin from IB and I think it said something about if you want to file for a busted trade get with them.