Q&A by Don Bright
THE OPENING PLAY
I was wondering if you could help with a couple of things. You have written about your opening play a couple of times. Now that we seem to have 24-hour trading, with electronic communications networks (ECNs) and so on, is that play still working? Are there any major changes you can address that I may not know about? In addition, if you have time and space, could you please explain again how you see the end-of-day shares that are being bought or sold ahead of time? How can I get this information? Is this a special privilege? Is it something that has to be paid for? Thank you.
Okay, good questions, and good time to review. Historically, the first hour and last hour have been the better times to trade, and this applies even more these days. Intraday, my traders are more focused on their “precalculated” numbers involved in correlated pairs and mergers. So there’s still some daytrading going on, but it’s more short term over a few days on multiple positions.