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Apish, first I want to tell you that

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SSKILLZ1 Member Level  Tuesday, 01/31/06 11:11:41 PM
Re: apish post# 812
Post # of 2230 
Apish, first I want to tell you that your SUWN.ob won't be frozen until tomorrow closing price, so I will ask do you really want to submit your request at this time, if I don't here back from you otherwise obviously your freeze will go through as you asked at whatever price SUWN.ob closes at tomorrow.

Below is what you said.

"If the next day's first trade of a stock (buy) is higher than the previous close on no news (as was the case with ISSG yesterday), then the buy price must be at the first trade (higher) price. If the next day's first trade of a stock (sell) is lower than the previous close on no news, then the sell must be at the opening (lower) price."

What's the rule on closing prices if there IS news?

It is important to note that, the rule won't even trigger unless the stocks opens up/down 15%+ on no news.

Example: If Trader A place a trade at 3:55 pm. The next morning his new stock is brought out by a larger firm for a 50% premium. Trader A will benefit from the 50%. Why you may ask, because there is news, and TraderA should benefit from the news. The only reason the rule was put in place was for ISSG.ob, the stock closes at .23, the bid at .26 and the ask at .30. The next day the stock is up 30+% right at the open, on absolutely no news.

So basically to summarize.

The two ways the new rule doesn't come into affect
1) The stock doesn't open up/down 15%+ the next morning.
2) The Stock opens up/down 15% the next morning, but it is up/down on News.



---All above is just my humble opinion.
And I could always be wrong.
And as always do your own DD.---
http://www.investorshub.com/boards/board.asp?board_id=5316

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