(Click on charts to enlarge them, then click on them again for further enlargement. Use left arrow on your browser to return to the narrative).
When I saw that FCX was indicated at BID: 53.73...ASK: 53.75 in pre-market, it became obvious to me that I got shaken out yesterday afternoon when FCX swooned into the close. I don't mind paying up for a stock, once I can see what's going on. I placed my order for 2,500 shares of FCX at 53.75 in pre-market, an hour before the open. There were plenty of trades below my order, in the 53.60's, but I got NO shares filled by the 9:15 close of pre-market trading, so I yanked my order and raised it to 53.78, above yesterday afternoon's 53.72 high, figuring that I'd get my shares executed on a gap fill.
GIMME A BREAK!! My 53.78 order was the EXACT low in the stock this morning, and as has often been the case lately with my trading in size (large order), the buzzard faces gave me NO shares. C'mon, 500 shares isn't tha-at large of an order on a stock that has traded 9,000,000 shares in the first half of today's trading.
It's just a wee bit annoying to "get it right," but not make any money on it. I refuse to allow that to annoy me, though, and will continue to have a very positive attitude about the stock market.
Dirty rotten Buzzard Faces. Curses!
Gain on the session: Zeeeeeeeeeeeeeeeeeeero.
2 comments:
melf,
Don't place the order in advance. Once you fix a price wait for that to show up in the Bid or Ask price, then hit it.
Market Makers see the demand and they move accordingly. Or the program algorithm is in such a way that to compute the inside Bid and Ask price based on other orders.
I know that very well from my own experience dealing with Option where it is very hard to get a fill. Never show your buy or sell order. Get ready to execute when our price show up.
Priapusmon,
It doesn't seem to matter whether it's an order that I've placed in advance, like this morning, or if I put in a limit order right when a stock is trading near the price that I want, like SLW earlier this week. They only gave me 200 of the 2500 shares that I wanted of SLW, then they took the stock higher, away from the price that I wanted. Ver-ry frustrating.
Thanks for your help. Have a great weekend!
Post a Comment