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Strategies & Market Trends : The Final Frontier - Online Remote Trading
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To: BrianL who wrote (4508)6/25/1998 6:59:00 AM
From: steve goldman  Read Replies (1) of 12617
 
What stock was it? Was it NASDAQ? If it was Nasdaq, forget even looking at the O-Open, its totally meaningly, that could any of the many mm's putting up a print from preopen late or within their 90second rule. The Real question you need to look into is 'What was the opening Bid/Ask ?".

You might want to check your new account forms. The firm with a sell limit, without discretion and not being 'not held', has to display your offer. I dont think they can do so PREOPEN without such a clause and I think most wait for the open, that would mean you'd get the opening bid. It could have been 1/4 to 7/8 spread at the open but without stock's name, I can't tell you more.

Simply ask the broker; 1)what was the bid ask at 9:30? 2) did you trade it preopen? 3) did you make amarket in the stock?

Regards,
Steve@yamner.com
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