Steve, have you noticed that pre/post market hours (extended) is more or less volatile for domestic stocks compared to stocks that are listed/trade in multiple markets?
Yahoo for instance trades on both Argentina and Mexico stock markets as well as the New York. As another example Cisco also trades around the world such as on the German and Mexican stock exchanges.
Perhaps such globals are more likely to have the local being adjusted near the open (arbitrage) than are just single/local stock market stocks.
i.e. stock gain/loss +/- currency (FX) gain/loss arbitrage as they should all be equal (that said different markets can pay different dividends at different times for the same stock).
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