TheTalkingMule
Distributed Energy Enthusiast
What's the difference between a regular limit order and a LOC order? Simply the time delay? I think that was a question being asked up-thread.
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Tesla, TSLA & the Investment World: the Perpetual Investors' Roundtable
- Thread starter AudubonB
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StealthP3D
Well-Known Member
A limit sell order often closes above the limit price. The potential benefit of a Limit On Close order over a regular Limit order is that many/most expect there to be a closing imbalance to the Buy Side today. If so, a LOC order would close at a higher price than a regular Limit Sell order placed right before the market closed (assuming at least the Limit price was reached for both Limit orders).
TheTalkingMule
Distributed Energy Enthusiast
Theoretically they could acquire shares after-hours, which will resume just after the closing cross, but my understanding is they will more likely wait until Monday if only a certain % of the required shares are obtained.
To expand on @JBRR's answer, the market-on-close order information becomes available to anyone with a relevant subscription at the same time - 3:45 PM or 3:50 PM PT (can't remember which).
My point is the index fund would not be interested in placing a limit order. If they did and it is not filled, they will be willingly compromising their tracking of the index.
Could these could be trades from ATSs? ("dark pools") Or maybe a weird artifact from the exchange used.
Pezpunk
Active Member
trying to time the market is an exercise in hubris, now probably more than ever. if you believe in Tesla's long-term mission and market position, hold. if you don't, then sell.
That's how I feel this is all playing out. They'll use the last hour of today and after hours to try and find all the shares they need that people are willing to part with, but they'll still come up a couple 10's of millions of shares short...which will lead to an interesting Monday morning
Yeah I haven't seen the description of their actual algo. They list their success criteria, of which the most important is to fill as many orders as possible. But how is the price determined exactly, I'm not sure I understand.
Yes. Think of this as deserve kind of hard copy limit. Realistically, would be far less than half.
I think all of these conspiracies about dark pools and insider share trading have gotten to me.
I don't have much in the way of short trades to worry about either way though. I sold off enough of my short term options to recover my principal so YOLO time.Sure would be ironic if all the retail brokerages crashed today in the last 10 minutes of trading and a squeeze occurred because people were literally unable to sell...
Thanks, this is my thinking as well hence my question on the mechanics. If they truly are tracking the index, the longer they are not 100% adjusted, the more out of whack they will get.
adiggs
Well-Known Member
An article that crossed my Fidelity news feed this morning claimed that 20% of the float is held by retail. I think that's more than I would have expected.
Bloomberg is watching this forum closely
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StealthP3D
Well-Known Member
I had to bold the "materials science". Who can you think of that has these unique attributes in spades?
Why does class have to be so hard?
Hi Bloomberg! If you want to borrow any of my memes you may, just as long as you credit me.
I always get that notification, it doesn't seem to impact any of my trades though. I just tested this with another stock with a 10X limit compared to market price and the order submitted fine.
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