Thanks. i've already read that, but still don't understand why they would remove such helpful info. Are they going to re-instate it at some point ? Look at SLG, and where it opened today. it traded 3 pts lower than the opening within a minute, and 6 pts lower than the opening price robbery within 10 minutes. Summary: removing the opening indications is akin to forcing traders to guess and be at the mercy of the specialists. Shame on the NYSE.
NYSE wants to limit the volititly before opening trades I assume. Market wants to slim down the "Day Trading" group. The "Day Trader" as defined in the 90s is finished, now we will have to see what other rules and moves come the way to make it a little more difficult. Most daytraders, left the Equities game. They are now trading Futures or Foreign Markets, Hence very little response to you post.
These sample indications from today are in line with indications that were given out prior to the change. Read the release from the link below. Indications do still exist. Regarding the CME indication, yes it was several dollars wide, no big deal for a 500+ stock. Regarding the comment on SLG, this is supply and demand. I did see it happen. It was faster than a bolt of lightning. This is unrelated to the issue at hand. One way or the other, I copied indications from today above, so there's your proof that they still exist. So it is incorrect that "the NYSE removed the opening indications for all NYSE stocks". Does this not answer your question?
SLG was the exact opposite of supply and demand. It was "lack" of info and deceit. If there was some INDICATION that it would open @ $134, say the opening indication was $132-$134, sellers would have entered more pre-market orders and prevented it from opening $4 from where it traded moments later. The "real" nyse indications are gone. Your indications do not look remotely like NYSE indications, they're too wide. NYSE indications are gone, and it's amazing how few ET'ers are affected by this change .
There is no point in arguing the SLG issue. It's the complaint frame of mind. Pros know that there is no way of knowing what would have happened had a variable like this been changed. For all you know it might have scared some short funds into covering and opening even higher than that.
LOL rubber bird originally when i came to this site i disliked you cause i thought you were a fucking piker, spouting his mouth(like every other rookie on this site) but i hav come to realize you offer quality observations, and are a phenomenal trader this one should come obvious to you, WHY DID THEY JACK OPENING INDICATIONS RIGHT AFTER HYBRID, think of it, it is all they have left to rob people. The NYSE is scrapping for every edge they have left. BTW DONT MEAN TO TOOT BY OWN HORN BUTTTTTT..... http://www.elitetrader.com/vb/showthread.php?s=&threadid=94442&perpage=6&pagenumber=52 hows that for a call baby??? These fucking pricks know they are out of business, you wanna see a bigger disgrace than timmay?? watch episode 2 and watch an amex spec tell everone he and his buddies "HAVE" to absorb the shock on a down move, they were saying they had to second morgttgage their homes, during 9/11 *edited for profain content* anyways hoe you take my profanitites as an apology later and good luck on the bounce today
Where's Don Bright on this subject? You would think if anyone would have something to add to thid discussion it would be him since it would impact opening order strategies I would think. Auto
Of course not. YOU, of ALL people should know that 90% of the people on ET do not trade. ET is merely a "playground" for "wanna-bees." The SEC mandate (and Reg. NMS) is what eliminated the ITS pre-opening indications. The NYSE has received some complaints regarding this feature having been eliminated. There are some ongoing discussions about it, but nothing says that it will ever be brought back. Contact Karen Lorentz at the NYSE for more info. (212) 656-5858