| Title: | Market Investing |
| Moderator: | 2155::michaud |
| Created: | Thu Jan 23 1992 |
| Last Modified: | Thu Jun 05 1997 |
| Last Successful Update: | Fri Jun 06 1997 |
| Number of topics: | 1060 |
| Total number of notes: | 10477 |
Hello,
Would someone please post what the opening price for Microsoft
this morning (4/15) was? I saw ~$118 on the tape but my broker
says it was an "out of sequence" order. Can any one explain
how there could be two opening quotes or is my broker trying
to take me for a ride to the tune of 11 points?
I would like to hear from anyone who was able to get in at less
than $128/share.
Thanks
Steve
| T.R | Title | User | Personal Name | Date | Lines |
|---|---|---|---|---|---|
| 158.1 | I don't get the term but the concept is well known | VMSDEV::HALLYB | Fish have no concept of fire. | Thu Apr 16 1992 14:09 | 15 |
You are out of luck.
I don't have the opening price but the low for the day was well over
120, so it looks like there really wasn't a trade at 118.
Placing orders early often returns the opposite of what you think
you'll get. If there are lots of orders, the price moves up until
enough sells are found to complete the trades. This is true in both
auction and NASDAQ markets. Once all the buyers are satisfied, usually
at the open, there are no more buyers to push the price up. It drops.
When there is a hot market I'll sometimes see a phantom trade cross the
tape and then see the stock revert to "closed".
John
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