RE:Trading FSX !JefferonianGold wrote: Just a word of warning. I have noticed that quite often FSX shares will have a premarket price higher than when the market opens. Today FSX had a premarket price of bid $2.65 and an ask of $2.65 I had wondered if some news was imminent but no! upon opening the price dropped to $2.41
hmmmm.........! no shares traded at $2.65 or even close. The games the crooks play!
Jeff, respectfully, even in your saloon's comfort, you personally could provoke this kind of move, without conspirationist thinking. You need some significant cash in your trading account and you must be interested to sell.
The market must be in the pre-open stage.
So, if you wanna sell, by "spitting" a good shares package in BID, at market open. you are interested to find as much volume as possible in BID and at better price. So you could use your cash available to put a great order in BID at "market price", like you could be interesed to buy (not to sell as in reality) a great quantity. Thereby, you will may obtain 2 things:
- even if you can see only the first position in ASK (like any common little individual trader, in his saloon) you will be able to see in ASK, by the greatness of your order, the full market volume to sell coresponding with the quantity of your false order "to buy" (cash available)
- by your false order, you could create an false and overmesured interest to buy, hence attract more buyers and more quantity in BID, backward but even forward to your false order
You have only to cancel your false "buy order" at 9h27 - 9h28, before market open (9h30), and immediately sell (spit) your shares package in that BID that you have eventually filled.
In our case, yesterday, in pre-open market, the best price was even 2,66 in BID (7,8 k as quantity) / ASK (10,1 k). The seller spited about 28k shares in market open between 2,49 and 2,41, if I'm right. I don't care how much quantity he (they) was able to attract in BID, by his (their) false buy order.
You could be right with the ... crooks, but they are part of the game. I don't think that our FSX, by daily trading volume and by market cap., could enter in the computer trading radar. IMHO.