>> I have no idea how to do those <<
You'd be good at it.
I get the news fast. I set up my platform to trade various venues, and, at 5 a.m, the close, I set up limit bids at prices significantly above the previous day's close or close, respectively. One button launches a buy, but I'll often adjust the limit to fit market depth. If I'm waiting for news re. a specific company at a specific time, I'll have saved orders at a variety of bids.
Sometimes it is a company that I know. (Reverse merge is not something that I sit and wait for.). Akebia was a perfect example. The news came out, and it was $5/share, upfront plus funding. There wasn't any reading and rereading the release, looking for stats, significance, SAEs. There was a fat five bucks per share. I forget, was it close to two per share, CASH? Anyway, a few trades had executed from a reloading ask, up a buck from the close. Under those circumstances, you hit it again and again, as you double check the market cap, short interest, etc.
In this case, my first blush thought was that the trading world had just been focused on ONCE, and, voila!!..... a reverse gene-therapy merge. I suspected that the news would have some liquidity behind it, and was first among the poorly informed to step forward. Has me a tad upset.
Anyway, what did I do? I pulled the trigger. Modest position, this wasn't a clinical trial or a partnership, etc. Then I read the release. Not much meat. Drunk with immediate success, I skipped Edgar, ct.gov, etc. and just watched trades, exited, entered, and exited. If not for daveau, I might have gone back in. Was watching 2.95.
OTOH, I'll be at compie at 5 a.m. Monday morning, considering just that.
:-)
I usually take Thursdays and Fridays off now, but air was filled with smoke. |
