Profunds index and sector trading

[bobjack]

Hi Sammy,
You can do everything right, and follow a great system, and still lose money as you know. I have followed Steve and MVP progress for a couple of years. I like Steve and I believe in his system!! A "REAL FLY IN THE OINTMENT" for me, while trading mvp was getting very different trade opening and closing numbers. The last "long switching to short" trade was based on using market orders for next day open. I use TDAmeritrade whom is now using some new method of establishing open/close numbers for many ETFs which trade on the AMEX. The new method would be fine if all brokers used it, BUT, they do not. Similar to NAZDAQ, where there is one price for buyers and sellers on the open (No Spread) seemed to be a great thing to me, BUT, the sell MVV open prices I got were $4 less than The AMEX quoted price (which apparantly everyone else got) and then I paid $55 for MZZ in certain accounts, where I and others paid $53.25 for MZZ in other accounts.
That means that on the SWAP, I lost $4 + $1.75 for $5.75 loss that had to be overcome just to break even.
This all had nothing to do with Steve and MVP, BUT, was all related to the brokers and exchanges. BUT, that affects whether you make or lose money with whatever system you use/follow.
BELOW is a message exchange with Steve about it.
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bobjack wrote: Steve,
I did get an explanation from TDameritrade on that MVV discrepancy. The news blurb on the cross opening prices, is a "TDameritrade" policy. I got the NASDAQ Cross Opening price, while everyone else got the official AMEX opening price.

At TDA, MVV and MZZ are part of this new policy!!

There are so many If's, AND's, and BUT's, that I am about ready to throw up my hands.
The opening shown on stockcharts yesterday was 83.25.
I don't know what to say now,
have a great day,
bobjack


----- Original Message -----
From: Steve Norris
To: bobjack
Sent: Friday, November 09, 2007 9:29 AM
Subject: Re: Opening Cross on NASDAQ


You're the only person who got that. Maybe it pays to enter your order later like 9:45 but things could also swing the other way.

bobjack wrote:
Steve, have you seen this??
http://nasdaqtrader.com/trader/openclose/openfactsheet.pdf

I do not know if mvv and mzz are part of it. This is supposed to alleviate a lot of the opening shenanigans.
I had fills that varied by 2 dollars yesterday -- what crap. I had couple MVV that had to sell before i could buy MZZ in ira -- (All market orders) that may have had some bearing on it tho.
I had sell MVV mkt sell filled at $83.25 @ 09:31:13 timestamp and MZZ mkt buy filled at $55.00 @ 09:32:21.
These 2 were in margin acct and both were mkt orders for open.

I had sell MVV mkt sell filled at $83.25 @ 09:31:14 timestamp and MZZ mkt buy filled at $53.25 @ 09:37:25.
These 2 were in an ira acct and both were mkt orders - sell MVV at open, buy MZZ at mkt on condition of SELL MVV..

I had sell MVV mkt sell filled at $83.25 @ 09:31:14 timestamp and MZZ mkt buy filled at $53.25 @ 09:37:24.
These 2 were in a tiny roth ira acct and both were mkt orders - sell MVV at open, buy MZZ at mkt on condition of SELL MVV..

I had MZZ mkt buy filled at $55.00 @ 09:32:24 in another tiny roth ira

SO, all my MVV sells were at $83.25 and you said all the others were $87.10 -- I GOT SCREWED BIG TIME

bobjack