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Wednesday, June 07, 2006

Update - AUY

Major problems with blogger today! Sorry for the delay!

So AUY opened in the pre-market at $9.39 right at yesterday's close after trading at $9.85 after hours last night. The Nasdaq site is indicating that the first trades were at 7:01am for that price. At 8:00am the price opened at $9.54 and hit a high of $9.65 at 8:37am. It bounced around the $9.50 price level and opened at 9:30am at $9.50 and hit an early high of $9.55 before taking its initial drop and low for the day to $9.27 by about 9:40am. After this point the price did rise and fall a few more times but I personally don't look for anything after the initial "Cramer drop" that we have seen a lot of at 9:30am lately.


So, something to consider. These trades that took place at 7:01am this morning. Now that I am using new tools to look at the intra-day numbers I have never seen trades this early. Did someone swoop in and see some sell orders at last nights close price that weren't bought up after hours yesterday and get a sweet deal to catch a quick run up?? What else would explain that the trades all happened at 7:01am and not again until 8am? I know some brokers are open starting at 7am, but I never realized that there might be some way or advantage to get some shares that people probably had sell orders in from the day before if that is the case. Seems odd to me, but I will be on the lookout for it now for sure.

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