Alibaba ipo

focus1974

focus1974

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Skevaboy
$BABA Right now early indications are showing that there is 25MM to buy $80, 15MM to buy at $85 and 5MM to buy at $90
 
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Shiny Things

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focus1974 said:
eh...when is it starting to trade on nyse...

No price or bid/ask on my dbs internet trading

Stock symbol is BABA rite?
Click to expand...

What's happening is that they're still conducting the opening auction - trying to figure out where to cross the opening block of shares. This is one of those delightfully quirky things that are unique to the NYSE - an actual person (one of the specialists for Barclays) stands on the floor with an electronic order book in one hand, assembling a pile of market-on-open and limit-on-open orders, saying "it looks like it's going to price around $75... no, more buyers coming in, somewhere $78-80... no, bidders pulling back, make it 77-79...". And then, when the specialist says "go" - and not a moment before - the exchange's computers cross that huge block of shares at whatever the agreed cross price is, and the stock is unleashed for trading.

You might, depending on your broker, be able to put up limit orders or market orders (don't put up market orders!) that will then get fed into the opening cross. IBKR is letting me do it.

This takes a long time - Twitter's opening auction took about an hour and a quarter. The talking heads on CNBC (this is the first time I've watched CNBC in about two years and it isn't any less stupid) are saying the current indicative range is 80-83 and they're having trouble finding sellers, so this might go on for a while.

Other exchanges (Nasdaq, lookin' at you) run the opening auction completely by computer - the computer assembles the pile of market and limit orders, finds the point where sellers and buyers balance for maximum volume, and then gives up and drops the whole bundle on the floor.
 
focus1974

focus1974

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people with supply dont want to come out to sell even at $85??..
..die.. $100 open.

buy or not?
 
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