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Strategies & Market Trends : The Final Frontier - Online Remote Trading
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To: jdx who wrote (3801)4/21/1998 9:00:00 PM
From: Sword  Read Replies (2) of 12617
 
Open up a quote window in StockEdge Online tomorrow morning and check the quotes. Starting at about 5:30 am (Calif. time), preopen bids and asks will start to be posted. On a stock that is indicating higher than the close, the bid will be above the ask; on a stock that is indicating lower, the ask will be below the bid. These quotes will be continuously updated, more and more rapidly until the market opens. I assume that what is happening here is that there is an imbalance in the market and that the disparity in the bid/ask spread is balanced when the trades cross at the open. To see more clearly which stocks are being updated rapidly, add a column to the screen that indicates time, if you haven't already got it.

It's true that you can't get the aftermarket trading prices but you can see what the preopen market is indicating an hour before it opens. This information can be seen in the MB Trading Market Minder window as well.

This is actually very useful. On Monday, the indication for a stock I was prepared to trade was higher. It started to fade just before the open, however. I quickly canceled my limit buy order. The stock fell 5% in about 3 minutes. After the pause and ticker buy prints started, I placed a new order and caught the stock 1/8 above the low for the day. I made 1 5/8 within 45 minutes. LOL! But I lost it on a bad trade later in the day. (I learned that day that some stocks are so volatile that there is no way to control the losses. I will avoid stocks with this kind of price action in the future, whenever possible.)

Hope this helps.

-Sword
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