# Buying in pre-open??



## nizar (19 April 2007)

How come Yanks can buy/sell stocks in "pre-open"

Eg. From marketWatch


> Dow member Altria Group Inc. said first-quarter net income fell to $2.75 billion, or $1.30 a share, from $3.48 billion, or $1.65 a share. On an adjusted continuing operations basis it earned $1.03 a share. Analysts had been expecting earnings of $1.05 a share. The company also raised its profit forecast from continuing operations for the year to a range of $4.20 to $4.25 a share, from its prior view of $4.15 to $4.20 a share.
> 
> *The stock slipped 1.1% to $69.33 ahead of the open. *
> 
> ...




How come they can do this?
Can we do this on ASX?

And when can you actually start trading in the States?
Obviously before 9.30??

Thanks.


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## nizar (20 April 2007)

Thoughts??


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## chops_a_must (20 April 2007)

nizar said:


> Thoughts??




If they call them fork-lifts, how come they don't lift forks?


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## nizar (20 April 2007)

chops_a_must said:


> If they call them fork-lifts, how come they don't lift forks?




Is this a joke? LOL


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## Nick Radge (20 April 2007)

nizar,
No you cannot trade pre-open. Pre-open allows bids/offers to be placed/amended in the market, but no trading. What this statement means is that offers during the pre-open were enough to open the price 0.6% lower when it did in fact open. 

Nick


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## nizar (20 April 2007)

Nick Radge said:


> nizar,
> No you cannot trade pre-open. Pre-open allows bids/offers to be placed/amended in the market, but no trading. What this statement means is that offers during thr pre-open were enough to open the price 0.6% lower when it did in fact open.
> 
> Nick




Oh I see, like an indicative opening?
That normally means nothing here especially 1hr before the open...

Thanks Nick.


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## stoxclimber (20 April 2007)

Nick Radge said:


> nizar,
> No you cannot trade pre-open. Pre-open allows bids/offers to be placed/amended in the market, but no trading. What this statement means is that offers during the pre-open were enough to open the price 0.6% lower when it did in fact open.
> 
> Nick




While it is true that you cannot trade pre-open, American markets have "after-hours" trading [open before and after the market closes]. e.g. I know for a fact that TD Waterhouse allows you to trade 7:30-9:30 am


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## chops_a_must (20 April 2007)

nizar said:


> Is this a joke? LOL




You asked for thoughts, I gave you mine.


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## nizar (20 April 2007)

chops_a_must said:


> You asked for thoughts, I gave you mine.




Funny guy.
You didnt ask for thoughts, BUT ill give you mine.
Why are they called apartments when they are stacked together?


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## bvbfan (24 April 2007)

I thought after hours trading was done on ECN's (electronic communications networks) like Instinet or Achipelago (don't think they exist in those forms now after being bought out) 

Arca is thie new NYSE platform after Achipelago was bought out
http://www.nyse.com/productservices/nysearcaequities/1157018931781.html


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## Holdon (24 April 2007)

It's like a casino unless you KNOW what's going on

[/I]


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## wayneL (24 April 2007)

Info HERE


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## Holdon (24 April 2007)

http://www.time.com/time/world/article/0,8599,1613579,00.html
May have some effect????


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## bigdog (24 April 2007)

How is the pre-open SP calculated using BSL as example?

BSL: BLUESCOPE STEEL LIMITED 
BSL  last 11.69; buy 11.70; sell 11.50 
Company Trading Status: Pre-Open  
Indicative Price: 11.63 Surplus Volume: -77 

BUYERS -------------  SELLERS 
Orders Quantity Price - Price - Quantity  
1 ---- 100 ---- 11.700 11.500 1,700 
1 ---- 2,023 -- 11.670 11.630 2,500  
2 ---- 2,000 ---11.650 11.690 654  
1 ---- 45 ----- 11.600 11.700 1,087 
1 ---- 84 ----- 11.560 11.710 4,184 
1 ---- 1,000 -- 11.530 11.730 883 
2 ---- 1,560 -- 11.520 11.740 3,000 
5 ---- 2,498 -- 11.500 11.750 14,941 
1 ---- 1,200 -- 11.490 11.760 4,000 
3 ---- 15,550 - 11.480 11.800 450


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## nizar (24 April 2007)

Yeh, so if we were in the states, the Yanks would say.
BSL was down 0.51% before the bell.
Or BSL eased 0.51% in pre-open trading.

WHich is totally misleading and a bit stupid.

NO TRADES HAVE GONE THROUGH.

Do any aussie papers/websites say this?
Or European?
Or any1 else?
Or just those yanks?


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## stoxclimber (24 April 2007)

Nizar, 3 people in this thread have explained it to you [wanye, bvbfan and I]. Nick Radge was incorrect.


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## Hopeful (14 May 2007)

You can trade US stocks outside of business hours. I do it from time to time. But I wouldn't recommend it because there is usually a wide spread so if you are in the wrong way getting out could cost you dearly. 

One US morning a few months ago WYNN went up to over $120 in the premarket and went straight down from the open. Wish I had sold then  . I'm still holding WYNN hoping for some sort of rally. Fortunately, I have been protecting myself with options.


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