|
PureBytes Links
Trading Reference Links
|
Darryl,
Yes, I place a market order on the Schwab computer the night
before for opening or closing long positions. I usually get the open
price. Sometimes, it does move against me and sometimes it moves in
my direction, but it is usually the open price if it's not a thinly
traded issue. A short position is a different story since the broker
has to locate stock to borrow. I'll normally open short positions
after the market has been open for an hour.
Jim
-----Original Message-----
From: Darryl D'Lima, MD <ddlima@xxxxxxxxxxx>
To: metastock@xxxxxxxxxxxxx <metastock@xxxxxxxxxxxxx>
Date: Thursday, July 23, 1998 10:20 AM
Subject: Re: EGGS
>Hi Jim,
>
>When you buy at the open, do you place an order overnight and how
often
>do you get a reasonable price? I have always bought/sold at a
specific
>price until recently when I placed an overnight order to sell short
at
>the market open price. The stock did go down, based on the
difference
>between the recorded opening and closing prices but my order was
filled
>at a full 1.5 points (5% of the price) below the opening price. I
use
>Datek and have always trusted them, but is this acceptable slippage?
>
>Has anybody else had this experience?
>
>Darryl
>
|