Trading for Blackstone

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bluestar's picture
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Joined: 2004-12-14

How come all reports says the stock opened at $36.45, but all charts indicate it opened at about $45?

blarmston's picture
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Joined: 2005-02-26

What charts are you looking at? I see on my screen it opened at $37.01...

bluestar's picture
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Joined: 2004-12-14

I looked at charts from yahoo finance and marketwatch.
http://finance.yahoo.com/charts#chart1:symbol=bx;range=1d;in dicator=volume;charttype=line;crosshair=on;logscale=on;sourc e=undefined
http://www.marketwatch.com/tools/quotes/intchart.asp?intflav or=advanced&symb=BX&sid=2743635&freq=9&time= 1dy&dist=TQP_chart_image
 

vbrainy's picture
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Joined: 2006-07-26

you people are scaring me.  Reuters open at $36.45.  Do you not have Reuters?

blarmston's picture
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Joined: 2005-02-26

Ahhh. In the grand scheme of things, it doesnt really matter. If you didnt get in at that price, who gives a $hit.

bluestar's picture
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Joined: 2004-12-14

I now see there was no trading volume under the price segment from $45 to $36.  I was looking at the small chart which does not have this detail.
I don't know why Yahoo and Market watch charts include prices before the stock opened for trading...

bluestar's picture
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Joined: 2004-12-14

blarmston wrote:Ahhh. In the grand scheme of things, it doesnt really matter. If you didnt get in at that price, who gives a $hit.
The reason this matters to me, is that yesterday I made a predictions to some clients in response to their inquiry.  I said the stock will likely open above its ipo price, run up another 15% to 20%, then come down.  My bottomline was there was a trading opportunity to buy when it opens.
If the stock had indeed opened at 47, then my prediction would be totally wrong.  If it opened at 36, then my prediction would be largely correct.

ManagedMoney's picture
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Joined: 2007-01-25

bluestar wrote:blarmston wrote:Ahhh. In the grand scheme of things, it doesnt really matter. If you didnt get in at that price, who gives a $hit.
The reason this matters to me, is that yesterday I made a predictions to some clients in response to their inquiry.  I said the stock will likely open above its ipo price, run up another 15% to 20%, then come down.  My bottomline was there was a trading opportunity to buy when it opens.
If the stock had indeed opened at 47, then my prediction would be totally wrong.  If it opened at 36, then my prediction would be largely correct.Predictions are totally worthless.  No one makes money based on predictions.  If you thought there would have been a trading opportunity, then you should have put a stop-limit order to buy at 36, and then, if filled, immediately put a limit order to sell around 43. (along with a sell stop underneath the market, in case it fell out of bed after you were filled.)You see, you don't have to predict what the market is going to do in order to make money.  You simply have to have a strategy, and then place the correct orders.

vbrainy's picture
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Joined: 2006-07-26

That's tell him Managed Money

troll's picture
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Joined: 2004-11-29

MARKET ALERT
from The Wall Street Journal.
 
June 22, 2007

Blackstone Group opened at $36.45 a share on its first day of trading on the New York Stock Exchange on Friday, an 18% premium over its $31 initial public offering price.
For more information, please see: http://online.wsj.com/article/SB118252107097944849.html?mod= djemalert
Plus, look under the hood of the financial markets, with insight and analysis from MarketBeat, at www.wsj.com/marketbeat.
And dissect market data at the new Markets Data Center, at www.WSJMarkets.com.

PinBroker's picture
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Joined: 2007-06-17

There was some trading done on BX before it actually traded..I have no idea how this happens, as I dont know how "after hours" gets trading done either.
Anyways....about 18000 shares traded all the way up to 41 before the stock was trading "on the floor"...once that happened it opened at 36 and some change.
Pinn

AllREIT's picture
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Joined: 2006-12-16

The whole thing is a big bubble. BX has alot of name recognition, if Steve Schwarzman is selling you shouldn't be buying.

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