what happened to NYSE "opening indications" ?

Discussion in 'Trading' started by ghostzapper, Jul 24, 2007.

Do you want to see the NYSE "opening indication

  1. yes

    18 vote(s)
    69.2%
  2. no / it doesn't matter

    8 vote(s)
    30.8%
  1. And its barely an indication at that. A yellow light goes on that there is an imbalance, and thats it ! No price indication at all. You can now see stocks opening $5-$8 away from their previous close, and you have NO CLUE that it would open this way until after it happens.

    C-R-I-M-I-N-A-L
     
    #41     Aug 1, 2007
  2. If anyone has recent crazy stock opening stories , please share them here.

    And you can call the NYSE to complain:

    Karen Lorentz at the NYSE (212) 656-5858
     
    #42     Aug 1, 2007
  3. Best post to this thread. :)
     
    #43     Aug 1, 2007
  4. I trade GOOG a stock with the NASDAQ as its primary exchange. I do not trade the opening price in the same way many of the people who are posting here do. I wait until I know what it is and then do my thing. But what I have noticed frequently and unpredictably is that the NOOP which should logically be the OP for GOOG is overridden by an NYSE-generated OP, by an OP from the CSE and rarely by an OP from God know's where exchange. These latter three OP's will invariably be given as the OP for GOOG at the NYSE quote site and the Bloomberg.com quote site (which gets its data from Bloomberg Professional).

    I have spoken with the people at NASDAQ and they say that in spite of Reg NMS there is no agreement between exchanges with respect to which one gets to set the OP for an equity. So even if the NASDAQ is an equity's primary exchange, the NASDAQ does not set the OP for GOOG.

    So what happens? Many mornings the NASDAQ has one OP and the NYSE a different one. On mornings like that I go with the NYSE even though it may have set the OP with a 100s lot instead of the 1000's of shares which go in to generating the AM X and OP from the NASDAQ.

    This has been going on for years. I know, I've been monitoring it. So what's going to be done? IMO, SFA. What else is new.

    lj
     
    #44     Aug 1, 2007
  5. sprstpd

    sprstpd

    Why not take advantage of these crazy opening prices if they are so criminal? Send in multiple opening orders at different prices levels on both the buy and sell side depending on where you think "crazy" is. Then wait for the price to normalize.
     
    #45     Aug 1, 2007
  6. GS in the preM. Useful?

    lj
     
    #46     Aug 2, 2007
  7. Evidently not. Otay. One last try. Surely you boyz knew about the fuzzy-wuzzy OP. So bend over and retroflex your cervical spine where it articulates with your thoracic spine.

    lj
     
    #47     Aug 2, 2007
  8. I'm going to do what many other outraged traders are doing:
    boycott openings and NYSE trading in general.
     
    #48     Aug 2, 2007
  9. this morning, SLG opens @ $122.40

    the next print is $120.98

    that's a fair opening !
     
    #49     Aug 2, 2007
  10. Well the NYSE paid the penalty for depriving the public of vital info. As a result of their new lack of transparency, the NYSE has taken a beating recently, and well deserved.
     
    #50     Aug 4, 2007