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Strategies & Market Trends : A.I.M Users Group Bulletin Board -- Ignore unavailable to you. Want to Upgrade?

To: OldAIMGuy who wrote (7539)	5/27/1999 6:40:00 PM
From: JZGalt	Read Replies (1) \| Respond to of 18928

Tom wrote: - Do you think extended hours might increase the day's High/Low price range? Yes. Before hour and after hour trades are not recorded in the high/low of the day. - Does the possibility of extended hours look as if it will be beneficial to you? It might. The reason is sometimes (emphasis here) I can figure out the implications of the news in the technology stock I am following as well as the analysts. Now I have to wait until 9:30AM to use that news. If trading hours are earlier, then I can act on that news before the analyst gets on the squawk box and has all those brokers making cold calls. I know I can do this now, but if they extend trading hours I won't need any special accounts. The other plus is I do all my trading online now. No phone calls to the broker, etc. If you think of all the people who are going to be locked out of trading (Merrill Lynch, especially) because they have no way of executing a trade without a live person, then I am at an advantage with the online trading. This matters to me because I trade technology stocks. If I was talking about an IRA filled with drug stocks, or other traditional growth stocks with a few cyclicals and financial stocks thrown in, I doubt it. Most of these do not make dramatic 5-10% moves in a given day, so if I missed a 1% move in Merck, who would notice after 5 years? In using minimum buy and sell orders in conjunction with AIM on "good 'til cancelled" basis, do you think extended hours will improve execution? It might simply because the high/low of the days range might be extended. In other words, you guys complain about MRK never quite coming down enough to trigger buys lately, but if we had 24 hour trading (implied next step) and Tokyo has news which causes their banks to dump some US blue chip stocks to cover a loss, then you would get executed because you are sitting there waiting to buy and in a thinly traded market you have a better chance than when the "market makers" are on their toes. At 1AM, they aren't going to have the brightest bulbs manning the posts. <grin> All in all, I think this is a plus. The individual will have the same abilities as the institutions and the playing field will be leveled even more. Besides, Robert could now enter even more orders in a day for that bank in Argentina and who would want to spoil his fun. <grin> ---- Dave