To: Rolla Coasta who wrote (73 ) 2/7/1999 1:28:00 AM From: Joana Tides Read Replies (1) | Respond to
Doubting it's ever a good idea to either buy or sell pre-market or right at the Open. And yes, afterhours trading is just a Market Open Order, it's a myth (I heard a rumor - unless you're somehow able to do it (I've just read of this in potboiler paperbacks, don't know it to be a fact) with some USA stocks that also trade on the Europe or Hong Kong markets (the ticker symbols are different)through an account with an overseas broker. Perhaps the only people able to do this are Big International Rich Folks and Fund Managers, if any - if anyone on this board knows about this I would appreciate finding out for sure, just for curiosity if nothing else). Normally, there is such a huge volume of orders it gives them plenty of opportunity to shuffle and arrange them in the order that likely won't be to the customers benefit. Did you ever notice that it could take up to an hour or more for the market open order to be executed and it so often gets mixed up; when orders placed later seem to be confirmed immediately? Especially on Monday. To place market orders at opens gives them too much leeway not in your favor. Although a sell late on Friday into volume should work out okay, I would still think that it's always best to wait for a calmer period with less uncertainty and I always photocopy the realtime ticker immediately before and after placing the order just in case.
